Business, 16.10.2019 23:20 obliviousho2018
Ellsworth’s utility function is u (x, y) = min{x, y}. ellsworth has $150 and the price of x and the price of y are both $1. ellsworth’s boss is thinking of sending him to another town where the price of x is $1 and the price of y is $2. the boss offers no raise in pay. ellsworth, who understands compensating and equivalent variation perfectly, complains bitterly. he says that although he doesn’t mind moving for its own sake and the new town is just as pleasant as the old, having to move is as bad as a cut in pay of $a. he also says he wouldn’t mind moving if when he moved he got a raise of $b. what are a and b?
Answers: 2
Business, 22.06.2019 11:10, chloeholt123
Which of the following is an example of a production quota? a. the government sets an upper limit on the quantity that each dairy farmer can produce. b. the government sets a price floor in the market for dairy products. c. the government sets a lower limit on the quantity that each dairy farmer can produce. d. the government guarantees to buy a specified quantity of dairy products from farmers.
Answers: 2
Business, 22.06.2019 12:50, sunshine0613
Explain whether each of the following events increases or decreases the money supply. a. the fed buys bonds in open-market operations. b. the fed reduces the reserve requirement. c. the fed increases the interest rate it pays on reserves. d. citibank repays a loan it had previously taken from the fed. e. after a rash of pickpocketing, people decide to hold less currency. f. fearful of bank runs, bankers decide to hold more excess reserves. g. the fomc increases its target for the federal funds rate.
Answers: 3
Business, 22.06.2019 19:30, darkremnant14
Problem page a medical equipment industry manufactures x-ray machines. the unit cost c (the cost in dollars to make each x-ray machine) depends on the number of machines made. if x machines are made, then the unit cost is given by the function =cx+−0.3x2126x31,935 . how many machines must be made to minimize the unit cost?
Answers: 3
Ellsworth’s utility function is u (x, y) = min{x, y}. ellsworth has $150 and the price of x and the...
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