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During the Revolutionary War, the American colonies could not raise enough tax reveneu to fully fund the war effort. To make up the difference, the colonies decide to print more money. Printing money to cover expenditures is sometimes referred to as an" inflation tax". Who do you think is being "taxed" when more money is printed? Why?
suppose Americans decide to save more of their incomes. If banks lend this extra saving to business, which use the funds o build new factories ,how might this lead to faster growth the higher productivity?Is society getting a free lunch?
Explain how scarcity, choice and opportunity cost are related to each other using the production possibilities diagram
a. Family farm b. Petty shopper
c. Flower vendor
a)Family Farm
b)Petty Shopper
c)Flower Vendor
How can I analyze and find the Marshallian Demands of the following Utility function?
Β π’(π₯)=minβ‘{π₯1,π₯2}π₯3
I understand that goods x1 and x2 are perfect complements with each other, but what is the relation with x3?
Thank you
1. Expansion Path
2. Isocline
3. Inferior Input
4. Economic Region Product
5. The Ridge Line
Q= 20L + 60k - L^2 - K^2
If total outlay for both capital, K =N50, and a Labour, L= N20, is N4,600. Find:
a. The optimal quantity of K* and L* to be employed.
b. Calculate the maximum possible output of garri that the plant can produce.
is as follows:
Quantity Demanded Quantity Demanded
Price (income = $10,000) (income = $12,000)
$ 8 40 DVDs 50 DVDs
10 32 45
12 24 30
14 16 20
16 8 12
a. Use the midpoint method to calculate your
price elasticity of demand as the price of
DVDs increases from $8 to $10 if (i) your
income is $10,000 and (ii) your income is
$12,000.
b. Calculate your income elasticity of demand
as your income increases from $10,000 to
$12,000 if (i) the price is $12 and (ii) the price
is $16.
Give U=XY-2Y and Px=4 ,Py=2 want to minimize budget that subject to is U=288
1).write out the Lagrangian function
2.Use First order condition to find X and Y
3.Test for the second order condition for minimum satisfied.
#340153 on Dec 2023