(SOLVED) Humphrey and Lauren must share 10 pounds of

food and
Humphrey and Lauren must share 10 pounds of food and Humphrey and Lauren must share 10
pounds of food and 8 gallons of water. Humphrey’s utility function is Humphrey and Lauren
must share 10 pounds of food and

Charles has two children Thomas and Harry He wants to Charles has two children, Thomas and
Harry. He wants to divide $10,000 between them. He makes such decisions by maximizing a
social welfare function: U(UT, UH) = 4UT + 3UH, Where UT is Thomas’s utility and UH is
Harry’s. Furthermore, […]

For the same economy as in Problem 3 suppose the For the same economy as in Problem 3,
suppose the government decides to levy a $T per gallon tax on ice cream. Determine the partial
equilibrium and general equilibrium effects of this tax on the prices and quantities of pie […]

Repeat Problem 7 but assume that Humphrey s preferences correspond to Repeat Problem 7,
but assume that Humphrey’s preferences correspond to the utility function while Lauren’s
preferences correspond to the utility function This is a case of perfect substitutes. Repeat
Problem 7 but assume that Humphrey s preferences correspond to

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For the exchange economy considered in Problem 7 assuming Humphrey For the exchange
economy considered in Problem 7 (assuming Humphrey starts out with four pounds of food),
illustrate a competitive equilibrium by adding a budget line to your diagram. Does only one
equilibrium exists or are there many? What can […]

Describe the problem of asymmetric information that an employer faces in hiring a new
employee. What solutions can you think of? Does the problem persist after the person has been
hired? If so, how and what can be done about it? Is the problem more or less severe for
employees […]

Examine an episode of large-scale interventions by the Bank of Japan’s (BOJ) in the yen-dollar
foreign exchange market. Plot between January 2003 and January 2005 a measure of BoJ
intervention (FRED code: JPINTDUSDJPY). Do positive values of the intervention indicator
reflect purchases or sale of yen by the BOJ? What […]

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