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Suppose B is preferred to A. Is it possible for the chooser to be risk-averse? Demonstrate that D is preferred to C based on the expected utility criterion.
Role in causing their death. Use economic theory to analyze the likely labor-market effects of the growth in these awards, assuming that the wages in these jobs stay constant.
Has this trend continued? What impact might such a reduction in purchases of U.S. treasury securities have on the cost of short- and long-term financing?
If the annual rate of pay is the same in each class, which compensation system will maximize the value of the firm?
Suppose Rudy's utility function is U = M. Determine a price range where there might be a mutually beneficial insurance contract.
Suppose prices for next year are PX = 3 and PY = 5 and income equals $180. Is he better off, worse off, or indifferent next year? Explain by graphing two examples.
Draw SMC and SAVC curves corresponding to SAC, showing the three curves on the same graph. b) What is the short run supply curve of this firm?
Could you please explain why the long run supply curve can be downward sloping and the implication for the behavious of price as demand increases over the long run. Please illustrate this with grap
How many it will sell per month if the price is lowered to 22? b. the competitor decreases its price to $ 24. if the cross elasticity between the two radios is 0.3 what will ABC's monthly sales be?
Taxes are often used as a means of distributing income. What kind of tax system would you favor (regressive, flat, progressive)? Why?
Suppose buyers must pay a tax of T = 6/unit. Determine the quantity exchanged, and prices for buyers and sellers. How is the tax burden split between buyer and seller?
Discuss how operating room total costs, average costs, and marginal costs might change following the adoption of the the fiber-optic digital imaging equipment.
Are DVD players normal or inferior goods? What additional information is needed for you to be able to calculate the price elasticity of demand for DVD players?
As the Euro appreciates in value relative to the U.S. dollar, what happens to the price of U.S. goods in Europe? What happens to the price of European goods in the U.S.?
Suppose the monthly demand for soda by a consumer is given by Q = 10 - 8P. If the price of soda is $1 per can, how many sodas will the consumer purchase in a typical month?
A study sponsored by the American Medical Association suggests that the absolute value of the price elasticity of demand for surgical procedures is smaller than that for the own price elasticity for
Compare the effectiveness of i) a 50% increase in the savings rate (to 30%), ii) a 67% decline in the population growth rate (to 1%), and iii) a 10% increase in productivity (to 220).
Under your hand-drawn graph, list the determinant of supply and/or demand that causes each shift as well as the change in price and quantity. You should have 8 graphs.
Sketch (do not plot) the Labor Supply and Demand Functions. Explain why a two-dollar minimum wage be a price floor instead of a price ceiling?
Its total costs are $4,500. The marginal cost of producing the 101st unit of output is $300. What is the total cost of producing 101 units?
Write down an isocost equation if rent of capital is $30 and wage rate is $20. So in a curve if capital rent decreases to $10.
Consider the following lotteries: Suppose A is preferred to B. Demonstrate that C is preferred to D based on the expected utility criterion.
Which of these statements best characterizes the veiw pont of President Menroe. A)President Menroe opposed the passage of a protective tariff?
Suppose the government replaces the per-firm subsidy with a per-widget subsidy of $1. In the long run, is this change good or bad for consumers? Is it good or bad for producers?
The pump that is 5 cents lower than the current price). Show (graphically) the deadweight loss under the current tax and under the senator's plan. Can you tell which is bigger?