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When discussing the maximization of utility, regardless of whether you chose to work more hours or fewer
Describe the household's budget line and its relationship to the indifference curve. What is the household's optimal consumption bundle?
State and explain the law of diminishing marginal utility. Then, take THREE goods that you have purchased recently and Explain how your utility has behaved.
Q1. Solve Kader's utility maximization problem.
A. Is Bridget making the utility-maximizing choice? Why or why not?
You did such a great job in the 4th grade class last week that you have been invited back to explain diminishing marginal utility.
In the context of usual utility maximization problems involving two goods, prove that: a) All goods must have one net substitute.
Assume that an individual consumes two goods, X and Y. The total utility of each good is independent of the rate of consumption of the other good.
Calculate the change in consumption of goods x and y for a person with utility U(x,y)= 8(x)^0.6(y)^0.3 and income of $270 facing px = $2 and py = $3
What is the relationship between quality, consumption and demand for health care services?
Critically appraise Walrasian general equilibrium theory. Distinguish clearly between Walras' Law and Say's Law.
At which rate is total utility increasing: a constant rate, a decreasing rate, or an increasing rate? How do you know?
Question: Based on your knowledge of contemporary economic theory, evaluate the five principles of mercantilism.
Write a 2-3 page white paper which will help employees understand the economic experience of Mexico since NAFTA.
Question: Briefly consider the ways in which governments might influence the market for new cars?
What will the black market look like? What are some of the clever strategies that landlords might use to create a black market?
Six roles of government listed: Which do you believe is the most controversial? Why?
Problem: Conduct some background research on SBC.
The North American Free Trade Agreement (NAFTA) is a trade agreement between the United States, Canada, and Mexico
Question: What are two factors that cause the (S)AS curve to shift?
Select a company that uses (or has used) dynamic pricing. Briefly explain how the company uses dynamic pricing.
1. Trade liberalization conflicts with morally-conscious environmental policies.
Part 1: Does free trade harm the environment? Environmentalists argue that trade liberalization harms the environment.
Can you think of any other U.S. anti-trust law that impedes global competition?
Q1. Discuss the corportion's business activities in a foreign host country.