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You are the project manager in charge of developing the latest release of your software firm’s flagship product. The product release d...

You are the project manager in charge of developing the latest release of your software firm’s flagship product. The product release date is just two weeks away, and enthusiasm for the product is extremely high among your customers. Stock market analysts are forecasting sales of more...

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You are the oil minister of one of 5 key OPEC countries. The world demand for oil can be reduced to Q = 100 – p and theref...

You are the oil minister of one of 5 key OPEC countries. The world demand for oil can be reduced to Q = 100 – p and therefore p = 100 – Q(where p is dollars and Q is in millions of barrels/day). The TC of production for you and all your OPEC brethren ...

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You are the CEO of a Saudi Arabian company that is seeking to expand to foreign markets and establish itself as a global powerhouse. You a...

You are the CEO of a Saudi Arabian company that is seeking to expand to foreign markets and establish itself as a global powerhouse. You are aware that there a number of strategies available to you, but how do you choose? Explain and describe one type of business that might be most succ...

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You are requested to construct a model to predict the effect on the economy of the discovery of new oil reserves. How would you model the d...

You are requested to construct a model to predict the effect on the economy of the discovery of new oil reserves. How would you model the discovery? Discuss the number of goods that should be included in the model. ...

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You are on the TV game show Let’s Make a Deal, hosted by Wayne Brady. You have utility ofwealth U(W) = √W. a. Wayne Brady pre...

You are on the TV game show Let’s Make a Deal, hosted by Wayne Brady. You have utility ofwealth U(W) = √W. a. Wayne Brady presents you with a curtain and says it may contain a prize valued at $4,000 or a zonk, which has no value. Both outcomes are equally likely. He asks if ...

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You are in equilibrium on your indifference map with respect to X and Y. Your income does not change, but the price of X falls. You move to...

You are in equilibrium on your indifference map with respect to X and Y. Your income does not change, but the price of X falls. You move to a new point of equilibrium on the indifference map. Show: Where you end up if both X and Y are normal goods. Where you end up if X is normal and Y...

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You are estimating the costs to emplace water pump units in remote villages in a third world country, to decrease the distance people have t...

You are estimating the costs to emplace water pump units in remote villages in a third world country, to decrease the distance people have to travel during the dry season to get water. Each village will require a 20 HP unit that will last 4 years. The number of operating hours per year dep...

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You are considering investing $15,000 for a new file server to handle office e-mail, central document storage, and so forth. The computer ...

You are considering investing $15,000 for a new file server to handle office e-mail, central document storage, and so forth. The computer salesperson offers you a plan in which you can finance 100% of the purchase price with terms of monthly payments at 6%, compounded daily, for the next...

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You are competing for a rent with one rival. Your valuation and your competitor’s valuation are private information. You believe that...

You are competing for a rent with one rival. Your valuation and your competitor’s valuation are private information. You believe that the other bidder’s valuation is equally likely to lie anywhere in the interval between 0 and $5,000. Your own valuation is $2,000. Suppose that...

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You are choosing between two goods, X and Y, and your marginal utility from each is as shown in the table below. If your income is $9 and ...

You are choosing between two goods, X and Y, and your marginal utility from each is as shown in the table below. If your income is $9 and the prices of X and Yare $2 and $1, respectively, what quantities of each will you purchase to maximize utility? What total utility will you realize? ...

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