When prices are p1p2 12 a consumer demands x1x2 12 and
When prices are (p1;p2) = (1;2) a consumer demands (x1;x2) = (1;2), and when prices are(p1;p2) = (2;1) the consumer demands (x1;x2) = (2;1). Is this behavior consistent with the model of maximizing behavior?
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in april eggs cost 2 per dozen wine costs 1 per bottle your income is 120 and you buy 50 dozen eggs in may eggs cost 50
suppose that when the price of x goes up you respond by consuming less y a illustrate the substitution and income
suppose frank is a monopolist in the garden gnome market and is producing his profit-maximizing level of output suppose
it has been argued that in the long run monopolistic competition is inefficient becausea there are few manyfirms each
when prices are p1p2 12 a consumer demands x1x2 12 and when prices arep1p2 21 the consumer demands x1x2 21 is this
a monopolists average revenue function is arq 20minus30q and his total cost function is cq 20q2 find1 his total
cigarettes currently sell for 10 a pack suppose the government imposes both a 4 sales tax and a 7 excise subsidy on
if i spent all my money 450000 on a new house i could buy a house with 4500 square feet i settle for a 1500 square foot
consider the case of a gold standard economya what effect would you expect an increase in the price of gold to have on
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