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Imagine that there are 1,000 consumers who have preferences consistent with the same quasi-linear utility function (ui[x1; x2] = 10 ln[x1] + 10x2, which impliesMRS = ). (a) Sketch the individual con
United Kingdom Supermarkets In October 2000 the competition Commission reported on the supplyof groceries from supermarkets in the United Kingdom. It containedthe following information.
A coupon bond has a face value of $1,000 and pays interest atthe rate of 10% per year with interest payments made semi-annually.The bond matures 5 years from today. Assume an interest payment was ju
A Xerox copier is making only faintcopies (event F). The office manager needs to determine thecause of this. In general, copiers may have electricalproblems (E), mechanical problems (M), user proble
44 third grade students can be considered to be an SRS in asuburban school district with a sample mean of = 35.091. DPR scoresare approximately normal. Suppose the standard deviation ofscores in thi
Consider a market composed of five identical firms each with aconstant marginal cost of production of $50. They face a marketdemand given by Q=2,500-10P. Each firm is currently charging thecompetiti
Assume we have a profitmaximizing firm for which P=17-Q, and TC=5Q=Q^2/2, where P is theprice of output Q, and TC is the total cost of production. 1. Suppose the firm behaved likea perfect competito
Assume that the Bank of Ecoville has the following balance sheetand the Fed has a 10% reserve requirement in place:What is the maximum amount of new loans that this bank canmake Assume that the bank m
Let L = length of a newborn child. The minimum probability that achild will be within 2 standard deviations of the average length is0.75. What is the above probability if L is normally distributed
The profit on a gold necklace is $15 and the profit on the goldbracelet is $25. A jeweler's showcase has room for at most 60necklaces and bracelets combined. The demand for the necklaces isat least
Consider a 2 good exchange economy with 2 consumers. Consumer A'spreference is u(x1,x2) = lnx1 + ln x2. B's preference is represented by U(x1,x2) = 2 ln(x1) + ln (x2). Suppose the initial endowments
Ellen is downloading labor marke data for the most recentmonth, but her connection is slow and so far this is all she hasbeen able to get: UnemploymentRate: 5.0% ParticipationRate:
Suppose a country has the following production function Y=f(K,L)=K^1/2L^1/2 Its capital stock depreciates at 5%, its population grows at2.5% and its labor-augmentation technology increases at 2.5%
CONSIDER AN ECONOMY IN WHICH THE CONSUMPTION FUCTION TAKES THE FOLLOWING SIMPLE ALGEBRIC FORM C=300 +0.75 DI AND IN WHICH INVESTMENT (I) IS ALWAYS 900.00AND THE NET EXPORTS ARE ALWAYS -100.00
Evaluate the following events on prices and volume ofsales of houses in the Northern Kentucky housing market.Use demand and supply diagrams, label them carefully, and explainwhat affects the diagram
The state's fish and game department has a capital budget of $9million. What is the government's opportunity cost of capital if ithas the following projects to consider What does this indicateabout
Joe quit his job as a salesman where he made $35,000 per year to start his own t-shirt making business. His business expenses are $6,000 per year on rent, $12,000 per year on supplies, and $4,000 p
A company is considering the purchase of a large stamping machine that will cost $190,000, plus $4,500 transportation and $9,000 installation charges. It is estimated that, at the end of five years,
The firm's production manager claimsthat the firm's average cost of production is minimized at anoutput of 40 units. Furthermore, she claims that 40 units is the firm's profit-maximizing level of ou
max c,l,h {ln(c)+μ ln(l)} subject to the budget constraint: c=a+(1-T)wh and the time constraint: l+h=1 let μ>0. T<1 is a tax on labor income SOLVE for consumption (c) and leisure (l) as a
Suppose that consumtion equals $500 bilion when disposable income is $0, and that each increase of $100 billion in disposable income causes consumption to increase by $70 billion. Draw a graph of th
You areconsidering depositing $5000 now (i.e. at time t=0) into an IRAaccount that you plan on taking out 40 years from today. Given anincome tax rate of 25% and guaranteed rate of return of 5% comp
According to Yahoo Finance, on a twelve trailing month (TTM)basis, Heinz has a Return on Assets of 9.59%, and a Return onEquity of 56.28%. By way of comparison, ConAgra(CAG) had a Return on Asset
A trucking company fitted a regression to relate the travel time(days) of its shipments as a function of the distance traveled(miles). The fitted regression is Time = -7.1264 +0.0214 Distance, based
Suppose thatY1,Y2,Y3 is a sample of observations fromN(μ, s2) population but that Y1, Y2& Y3are not independent. In factsuppose: Cov(Y1Y2)=cov(Y2Y3)= cov(Y1Y3)=0.5s2 Let Y(y-bar)= (Y1+Y2+ Y3)/