Robert only consumes x and y, and his indifference curves have the usual convex shape. consider the consumption bundles (3, 9), (6, 6), and (9, 3) (hint: the consumption bundles completely exhaust robert's income). if robert is indifferent between (3, 9) and (9, 3), then:
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Sharon had some insider information about a corporate takeover. she unintentionally informed a friend, who immediately bought the stock in the target corporation. the takeover occurred and the friend made a substantial profit from buying and selling the stock. the friend told sharon about his stock dealings, and gave her a pearl necklace because she "made it all possible." the necklace was worth $10,000, but she already owned more jewelry than she desired.
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Demand increases by less than supply increases. as a result, (a) equilibrium price will decline and equilibrium quantity will rise. (b) both equilibrium price and quantity will decline. (c) both equilibrium price and quantity will rise
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From what part of income should someone take savings?
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Robert only consumes x and y, and his indifference curves have the usual convex shape. consider the...
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