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Taxes are often used as a means of distributing income. What kind of tax system would you favor (regressive, flat, progressive)? Why?
What are the tradeoffs of preserving some programs while protecting others?
Bond A has coupon interest rate of 6% paid annually. Bond B has a coupon interest rate of 14% paid annually. A. Calculate the selling price for each bonds.
Problem 1: What would be the consumer buying response to Coca-Cola if the price of Pepsi doubled?
What is the value of x that will make the manager indifferent between shirking and working hard?
If you take away $1 from a rich person and give it to a poor person, the rich person loses less utility than the poor person gains. Agree or disagree.
a. Calculate Joe's expected utility level without any health insurance coverage.
Prove that a diminishing marginal rate of substitution neither implies nor is implied by diminishing marginal utility.
Now demonstrate this property with the Cobb-Douglas individual's indirect utility function.
Write Lolita’s inverse demand function for cow feed.
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?