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Why is the marginal cost of inputs more important than the average cost of inputs?
Knowing your own utility and assuming that all your coworkers actually bid their true utilities, how should you bid?
How can you go about finding L*? normally it is where the budget constraint and utility functions slopes are equivalent
Solving this problem either numerically or symbolically, how much of the public good will be produced and by whom?
Show that the autarky relative price for country A is not uniquely determined, and in fact can lie anywhere in the interval between zero and infinity.
Would you consider that Fred was making a utility-maximizing choice and if so why or why not? If not, what should he do and why?
In the context of the usual utility maximization problem involving n (>2) goods, prove that not all goods can be Giffen and that a Giffen good must have.
Derive and interpret the Slutsky equations and explain what happens if g double prime (s) = 0
At this level of pollution, what is the marginal cost of pollution?
Would you ever bid more than v regardless of how the other players bid? Explain.
What utility are you looking for id and when you use commercial aircraft for longer distances?
Problem: For each of the following situations, decide whether Al has increasing, constant, or diminishing marginal utility.
1) Does the lower price alter the marginal utility you originally placed on the item?
What are some of the economic consequences of global warming? What kind of market failures does this predict?
Would the shareholders choose to reinvest by issuing new equity to pay for the loss or are they better off walking away from the firm?
How many additional dollars of income would it take to make the worker work 10 more hours a week?
Is there a parallel between diminishing marginal utility in consumption and diminishing returns in production?
Question: Every November, Smith and Jones each face the choice between burning their leaves or stuffing them into garbage bags.
Question: How do I compute the Expected Utility given the probabilities and the utility of each outcome that I am given?
Articulate how macro- and microeconomics come into play in the context of company decision-making in a global business.
As part of your answer, indicate what role the theory of diminishing marginal utility plays?
Use the concept of marginal utility to explain the following: Newspaper vending machines are designed so that once you have paid for one paper;
Her marginal utility from the third football ticket is twice as much as her marginal utility from the second soccer ticket.
What effort does the principal want to induce when effort is not observable? What is the optimal contract for the principal?
How might I have reallocated my spending so as to maximize my total satisfaction from pizza and coffee?