4a) His income is €300‚ so his budget constraint is the line between y=30 and x=75. The optimal choice (utility-maximizing) is shown by the point of tangency with his utility function. This is point E (and x =30). b) The budget constraint shifts to x = 120. The new optimal choice is point C (and x = 35). c) ΔY∙py = (30-22‚5)∙10 = €75 d) The total effect: Point E C e) Income effect: F C Substitution effect: E F f) Income effect < 0‚ so X is an inferior good. 5a) U(x‚y) = x1x2
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Celine-Alisha Wolff Assessment One: The Kingdom of Armorika GDP Per capita Gross Domestic Product per capita enables comparison of countries on an individual level. Using the total production output of the country and dividing it among its population. This allows a measurement of how wealthy a country is compared to how many people there live. The Kingdom’s GDP per capita is US$48‚010. Armorika GDP ranks between Germany with a GDP per capita of US$46‚268 and Canada with a GDP per capita of US$51
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PROBLEM SET AMY ECON 315: Labor Economics Spring 2015 Joseph Roskowski jmr6003 FAQs Do I have to type the homework? Yes! Homework must be typed. You will receive a zero for turning in hand written homework. You may draw graphs provided that they are neat and include all labels and arrows. Equations must be typed or you will lose 50% credit for that problem. Does it need to be stapled? You must staple your homework together. Unbound homework will lose 10% credit. Can I email it to you? NO! Homework
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. In terms of wealth the disparity between rich and poor nations of the world‚ of the global village we supposedly live in‚ has only grown. The map of the world below‚ from the United Nations Development Programme based on the Gini coefficient clearly shows the preponderance of wealth and the inequality that exists. ‘The Gini coefficient is a measure of income inequality that ranges between 0‚ indicating perfect equality‚ and 1‚ indicating complete inequality.’ (UNDP‚ 2003: 39) The report continues
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TH GAP The Wealth Gap In Hong Kong Comparing to the near area‚like Singapore‚Hong Kong’s Gini coefficient is more higher and ranked top in the world.Even the wealth gap is not common in western societies‚however‚it is no doubt that wealth gap has threatened the Hong Kong most. With the change of economic mode in Hong Kong ‚it trend to knowledge-based economy rather than manufacturing industry so that a large number of worker are unemployed immediately‚in the other hand‚a lot of high-class people
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Definition and Explanation of Job Order Costing System: A job order costing system is used in situations where many different products are produced each period. For example clothing factory would typically made many different types of jeans for both men and women during a month. In a job order costing system‚ costs are traced to the jobs and then the costs of the job are divided by the number of units in the job to arrive at an average cost per unit. Job order costing system is also extensively
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Capstone Checkpoint Hum 130 Capstone Checkpoint The world religion class was quite a learning experience. Learning about all of the different religions was truly fascinating. Reading about how everyone worship‚ who they worship and what rituals are practiced was very influential. It is easy to see how important religion is to people all over the world. Everyone it seems believes in something other than themselves. People everywhere feel as though they are connected to a higher authority
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In this report，something about how to improve English ability will be analysed. During the last decade‚ I have been attending English course to the test and learning English continuously in China. In the following texts‚ firstly I will analyse my current level of English. Secondly I will describe what work I need to do to help my English studies. Next what work is the most effectiveness will be analysed. According to the scores of Ielts‚ reading is my strength because of the highest score among
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UNEMPLOYMENT AS A PROBLEM OF NEWLY GRADUATES IN THE PHILIPPINES Introduction The country’s education system continues to turn out college graduates whose training and skills are not attuned to the needs of the labor market both at home and abroad. This is the lament of human resources and labor recruitment officials who decry the continuing popularity of glamorous and white-collar courses that produce diplomas but not well-paying jobs. The criticism had been voiced many times in the past
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A Proposal for M. Phil Research Study ‘Costing and Pricing of Poultry products in Bangladesh – An Evaluation’ 1. Introduction: Agriculture plays an important role in economic development of Bangladesh. Poultry is one of the important subsectors of agriculture. Poultry is domesticated birds kept by humans for the purpose of producing eggs‚ meat‚ and/or feathers. Now a day‚ poultry is another growing industry in Bangladesh. Chickens‚ ducks‚ quails and turkeys‚ pigeons are included in poultry
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