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Suppose a decision makers utility function can be described by U(w)=w^0.5. What is this project's certainty equivalence for this decision maker?
What is the firm's profit- maximizing output level? What is the amount of its economic profits (or losses) at this output level?
Derive the marginal rate of return for each year of schooling. How many years of schooling will Mike attend if his discount rate is 4 percent?
What is the profit maximizing level of production for each farmer? How much profit does every firm make at this price/quantity combination?
Calculate the demand for both production factors. Calculate the cost function and average costs. What type of scale economies does it have?
What is the demand for labor in the short run? Let analyze the long run case. Calculate the MRTS. Explain what it represents.
Calculate the cost function, marginal costs and average costs. Let analyze the long run case. Calculate the MRTS. Explain what it represents.
If the price of watches is 100, how many watches should you produce to maximize profit? At what minimum price will the firm produce a positive output?
What would be the equation for the production function? What is the average and marginal product of labor in this case?
There is another contract available, though, where the client agrees to give the gym a sum of money. What does this secondoption look like?
Suppose the government was to provide a $2 per hour subsidy or 300 dollars for families. How would these two policies affect women's working decision?
Suppose full-employment level of real GDP is increasing at a rate of 3% per period. What will happen to the long-run inflation rate, assuming constant velocity?
What would you expect the pattern of trade to look like? Do you think we can still talk about comparative advantage in this case?
Suppose that the monetary base increases by $100,000. Based on your answer in Part (b) by how much will the money supply change in the United States.
If inflation pushes the price level up by 10 percent, what will be the real value of your savings?
What is the equilibrium price and quantity for natural gas, i.e. (P_g*,Q_g*)? Explain verbally!
Calculate the price elasticity, income elasticity and cross price elasticity for the demand of natural gas at the equilibrium, and explain briefly.
After news of National Marathon Month, at a price of $8, how many braces will be supplied?
When sulfur dioxide is emitted into the air it is transported over long distances. In what way can acid deposition be consider a rival bad?
what are the lessons you can draw from being a subsidiary manager at a multinational that can help you successfully convince the headquarters.?
Based on the above information, what is the maximum AVERAGE grade the student can earn if she studies 9 hours per week?
What is the profit-maximizing quantity of capital and labor? What is the profit-maximizing quantity of output? What is the maximum profit for this firm?
What is the minimum price necessary for the firm to earn profit? Below what price will the firm shut down in the short run?
Now let the budget constraint increase to exist58. What are the optimal levels of X and Y now? What is the total benefit when the budget constraint is exist58?