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-decrease by an amount equal to the increase in computers.
-stay the same.
-expanding resources and improving technology.
-rising exports and imports.
-falling consumer demand but improving technology.
-expanding resources and rising interest rates.
groupM : not as smart
Cost of attaining education:
CK(e) : 3000e
CM(e) : 4000e e stands for years of education
employees are offered 30,000 if e<e*
employees are offered 90,0000 if e>e*
Question; for education to serve as a signal for smarts what is the min e* employers should set?
How much would you pay to use the machine for one day without break
iii) Calculate the final change in the money supply available in the banking system if the reserve ratio increases to 25%. Explain briefly how the money multiplier works.
People have most of the control over available goods and services.
Production is based on consumer preferences.
Products readily available in a market economy may be rare or nonexistent.
People are allowed t work in any job or career they choose.
Calculate the marginal rate of technical substitution of x_(1 )for x_2
a. Represent the above game in payoff matrix form.
b. Identify the dominant strategy for both firms and the dominant strategy equilibrium?