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If the consumer maximizes their utility subject to their budget constraint, how much of Good X and how much of Good Y will the consumer purchase?
The quantity of Good Y on the vertical axis. Be sure to label your graph carefully and accurately. What is the slope of the budget constraint?
Put the amount of Y on the vertical axis, and the amount of X on the horizontal axis. Which of the three assumptions that we made about consumer preferences is violated in this case?
Three years from now, and $5000 five years from now. What is the present worth of the planned expenditures at an interest rate of 10% per year?
The quantity of Chevy trucks demanded increases from $112000 to $144000. What does the cross elasticity of demand between Ford and Chevy trucks equal?
If so, how? What reliance behavior would be considered efficient? What reliance behavior would be considered excessive?
Explain the effect on the market for cigarettes for each of the following events ( your answer should discuss whether and why there is a shift of the demand curve-leftward or rightward shift.
Is this inverse relationship consistent with supply theory? Explain why an inverse relationship is or is not predicted by supply theory.
Solve algebraically for both the equilibrium price and equilibrium quantity in this market. Show all steps in your derivations.
Under what circumstances would Gore be better off giving Bush a head start on putting together his presidential ticket? What kind of strategic situation is this?
In 2008 it had a population of 2,500 and real GDP of 14,640,000. What was the growth rate of real GDP per person in Freedonia between 2007 and 2008?
The graph also shows that the minimum price at which a few of the producers are willing to sell is $0.06 per pound. In the absence of a price floor, how much consumer surplus is created?
Find a newspaper or magazine article that highlights wages, productivity, and other resources in a particular market situation. Write a 1-page paper on the interaction of these variables.
Suppose there are two consumers, A and B.Suppose the price of Y, PY = 1. Calculate the price of X, PX that will lead to a competitive equilibrium.
Provide your thoughts on how U.S. jobs can be eliminated or increased by comparing and contrasting these viewpoints. Be sure to support your responses with current creditable resources.
What are the main differences between microeconomics and macroeconomics? Provide an example of a microeconomic and macroeconomic phenomenon.
Briefly explain how these three trade-offs are determined using a good or service that you select and where the information about the product is found on the Internet: Which goods/services are produ
Explain how this new inflationary environment would affect the demand for money according to portfolio theories of money demand.
Show why the following statement is not correct, 'the way to make the most profit is to sell as much output as possible' explain your answer under the following subtitles: perfect competition.
Suppose that a mysterious in bovine infertility decreases both the population of dairy cows and the population of beef cattle by 50%. What will the equilibrium price be?
Draw and show the change in the PPF when an outbreak of avian flu sickens millions of agricultural and industrial workers.
The Human Resources Department suggests using a 12 percent rate, because that more nearly equals society's true opportunity rate. Evaluate the projects using both the 5 percent and the 12 percent rat
Calculate the internal rate of return and the net present value to determine the desirability of this investment. Should the Bobcats sign the superstar?