Fiona requires a minimum level of consumption a threshold
Fiona requires a minimum level of consumption, a threshold, to derive additional utility: U(X,Z) is 0 if X+Z is less than or equal to 5 and is X+Z otherwise. Draw fionas indifference curves. Which of our usual assumption does this example violate.
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President Chavez Venezuela said he is going to not sell oil to the United States. What will happen to the price and quantity of gasoline in the United States?
Suppose there are nine sellers and nine buyers, each willing to buy or sell one unit of a good, with values ($60, $50, $45, $40, $35, $30, $25, $20, $15). Suppose there is a single market maker in this market. What is the optimal bid-ask spread?
Topics to elaborate: Economy (Economy stability/Managing economy resources effectively/Unemployment/Good control system):
Choose two microeconomic concepts, present and analyze two current events through the lens of microeconomic theory. “How does my current event illustrate a microeconomic concept?”
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What are the dual roles that strategic leaders play in the implementation process? What decisions do they need to make in terms of strategy and resources?
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