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Illustrate using maximization choice with current income & prices of two goods - wine & cheese.
Is there a Nash equilibrium in this game? Describe.
A utility-maximizing student with smooth, convex indifference curves spent her entire allowance on books (B) and movies (M) last month.
Illustrate what implicit assumptions are the publisher and the analyst making about price elasticity.
Using indifference curves and budget constraints, illustrate choices of Nate and Tim if Smiths give both boys same monthly allowance.
Using concept of marginal rate of substitution, describe why two sets of curves are different from each other.
Using survival constraint coupled with his budget constraint tell me what bundle (amounts of x1 and x2) maximizes his utility.
Explain two company products are viewed as identical by most consumers.
What is level of fertilizer that maximizes profits? How do you know?
Compute Marginal Rate of Substitution if you were to go from Combination A to Combination B.
Explain price elasticity of demand by indicating whether it. would be elastic, inelastic, or unitary.
A rate comparable to the average rate of interest which large banks paid on deposits over this period.
Determine his optimal consumption bundle? Describe your reasoning.
If I = 15000 and P = 150, compute point elasticity of price and of income.
Imagine opera has capacity of 3000 seats and that all costs are fixed. If they can discriminate between two groups, determine optimal price to charge to each group and how many tickets will each
Describe what would happen to each company's equilibrium output and profits if firm's marginal cost.
Give a real-world example of a market which approximates every oligopoly setting, and also explain your reasoning.
Elucidate the impact of import quota and tariff. Your fist instinct is to call the trade representative of your nation to lobby as per the import quota.
Explain a sequential game facing your firm, and represent it in extensive or tree form. Calculate and analyze equilibrium of the game.
Elucidate the relationship between Good A and Good B, between Good A and Good C and between Good B and Good C.
Consider the effect on the coffee market with a demand and supply. Illustrate what will happen to the equilibrium price also quantity when incident.
If price were to be decreased to $27 and average attendance increased to 60,000, what is the price elasticity?
Illustrate what will happen to the consumption of clothing is a normal good.
Assume the firm dropped price to $2.50. Would this be beneficial? Describe. Illustrate your answer using a demand schedule and demand curve.
illustrate what should he do in order to maximize total utility. Given the marginal utility & cost for the two products