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By early 70’s you realized the market for toys in the US is about to change. What policies would you suggest for the future in terms of new products and prices in order to match the supply with
Find the optimal amount of x and y to buy if you have the following utility functions and budget constraints.
Describe the problem and Formulate a model (functional relationship), use a linear regression model.
“We don’t understand all this supply and demand stu? you’re telling us. Can you draw us a graph to make it more clear? We like to think of our product as the attendance.”
Trends in board and narrow money growth in Indian empirical investigation and implication.
Calculate the marginal product of each of the seven units of resource X and enter such figures in the table.
Now assume that price of Q increases to P* = 0.80. Using your estimated demand function, calculate the change in consumer surplus arising from the price increase.
The key characteristics of the Chinese economy during the Mao era and the socio-economic shortcomings that China experienced between 1949 and 1976.
Clarify reasons of income inequality in a country. Find special reasons which appear in developing countries.
Bert’s Bonsai is a small company, started through a retired plant scientist that sells Bonsai plants, materials and tools to cultivate them, and literature in book and magazine form.
Form dual to the linear programming problem presented in problem 3; then solve it to get optimal value of C° . Does minimum value of C° for the primal in Problem 3 equal the maximum value of
Under what situation, if any, do you believe that the pursuit of self- interest can encourage outcomes which are good for the group as a whole?
Consider a world with two assets: a riskless asset paying a zero interest rate, and a risky asset whose return r can take values +10% or –8% with equal probability.
Derive the agent’s demand functions for good 1 and good 2. Calculate the quantities of good 1 and good 2 in the agent’s optimum bundle.
John Maynard Keynes argued that the basic problem which led to the world depression was
Suppose you are interested in assessing the value of the statistical life for individuals. You ?nd a dataset on risk and wages. You consider running OLS regression.
Include assumptions about the elasticity of the demand and market structure for the company’s good or service. Analyze data to determine fixed and variable costs.
Describe with use supply and demand diagrams, how the markets are affected in terms of the prices and quantities.
In this question, compare the size of the Government spending multiplier under two different assumptions: the Fed sits on their hands so that when G rises, r rises with it (the standard case), and t
Calculate Tom’s price elasticity of demand.
Calculate and Plot using a spreadsheet (like Ms Excel) the series for Nominal GDP.
Assume that a consumer’s preferences are represented by the utility function U = MIN(X, 4Y). The price of Y is PY = 2, and the consumer has income, M = 210.
Are total household expenditures symmetric, positively skewed, or negatively skewed.
The city council has just approved the construction of the water park in your town. You are responsible for studying the impact of the new water park on the local economy and surrounding community.
Explain the difference between nominal and real GDP and why real GDP is necessary to compare prior years’ data.