Category: business-economics

Order the answer to: There are two types of electric pencil-sharpener producers. “High-quality” manufacturers

business-economics

Order the answer to: There are two types of electric pencil-sharpener producers. “High-quality” manufacturers

Posted By George smith

Question
There are two types of electric pencil-sharpener producers. “High-quality” manufacturers produce very good sharpeners that consumers value at $14. “Low-quality” manufacturers produce less good ones that are valued at $8. At the time of purchase, customers cannot distinguish between a high-quality product

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Order the answer to: Homeowners 1, 2, and 3 live at the end of

business-economics

Order the answer to: Homeowners 1, 2, and 3 live at the end of

Posted By George smith

Question
Homeowners 1, 2, and 3 live at the end of a badly deteriorated road. Fixing the road would cost $C. The value to Homeowner 1 of fixing the road is $3,000, the value to Homeowner 2 is $5,000, and the value to

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Order the answer to: Three friends, Archie, Betty, and Veronica, are planning a party.

business-economics

Order the answer to: Three friends, Archie, Betty, and Veronica, are planning a party.

Posted By George smith

Question
Three friends, Archie, Betty, and Veronica, are planning a party. They disagree about how many people to invite. Each person I has a quasilinear utility function of the form mi + ui(x) where mi is the NAME 463 number of dollars that

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Order the answer to: This problem is set in a fanciful location, but it

business-economics

Order the answer to: This problem is set in a fanciful location, but it

Posted By George smith

Question
This problem is set in a fanciful location, but it deals with a very practical issue that concerns residents of this earth. The question is, “In a Democracy, when can we expect that a majority of citizens will favor having the government

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Order the answer to: Bonnie and Clyde are business partners. Whenever they work, they

business-economics

Order the answer to: Bonnie and Clyde are business partners. Whenever they work, they

Posted By George smith

Question
Bonnie and Clyde are business partners. Whenever they work, they have to work together. Their only source of income is profit from their partnership. Their total profit per year is 50H, where H is the number of hours that they work per

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Order the answer to: Bob and Ray are two hungry economics majors who are

business-economics

Order the answer to: Bob and Ray are two hungry economics majors who are

Posted By George smith

Question
Bob and Ray are two hungry economics majors who are sharing an apartment for the year. In a flea market they spot a 25-year-old sofa that would look great in their living room. Bob’s utility function is uB(S,MB) = (1 + S)MB,

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Order the answer to: (For this problem, you will want to use a calculator.)

business-economics

Order the answer to: (For this problem, you will want to use a calculator.)

Posted By George smith

Question
where v?¼i = ??j? i vj = ________ is the sum of the reservation prices of persons other than i. We found that if everyone responds optimally in the VCG mechanism, the land will be offered at a price of __________. Therefore the

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Order the answer to: Muskrat, Ontario, has 1,000 people. Citizens of Muskrat consume only

business-economics

Order the answer to: Muskrat, Ontario, has 1,000 people. Citizens of Muskrat consume only

Posted By George smith

Question
Muskrat, Ontario, has 1,000 people. Citizens of Muskrat consume only one private good, Labatt’s ale. There is one public good, the town skating rink. Although they may differ in other respects, inhabitants have the same utility function. This function is U(Xi,G) =

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Order the answer to: Sol Microsystems has recently invented a new language, Guava, which

business-economics

Order the answer to: Sol Microsystems has recently invented a new language, Guava, which

Posted By George smith

Question
Sol Microsystems has recently invented a new language, Guava, which runs on a proprietary chip, the Guavachip. The chip can only be used to run Guava, and Guava can only run on the Guavachip. Sol estimates that if it sells the chip

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Order the answer to: The Silicon Valley company Intoot produces checkwriting software. The program

business-economics

Order the answer to: The Silicon Valley company Intoot produces checkwriting software. The program

Posted By George smith

Question
The Silicon Valley company Intoot produces checkwriting software. The program itself, Fasten, sells for $50 and includes a package of checks. Check refill packets for Fasten cost $20 to produce and Intoot sells the checks at cost. Suppose that a consumer purchases

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