Many states have usury laws, which:
a. impose an upper limit on the interest rate that lenders can charge.
b. impose a lower limit on the interest rate that lenders can charge.
c. impose limits on how products can be used by consumers.
d. impose an upper limit on the quantity of a product that can be sold.
a. impose an upper limit on the interest rate that lenders can charge.
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Suppose bundle A is better than bundle B for a consumer, and bundle C is an average of bundles A and B. a. Use the continuity, convexity and monotonicity assumptions to formally prove that this implies that bundle C is better than bundle B. b.Did you also -- implicitly or explicitly -- use the rationality axioms?
What will be an ideal response?
In recent years, the fertility rate in developing countries has been
(a) declining. (b) holding steady. (c) increasing. (d) showing no particular pattern.
Refer to Scenario 13.1. Your negotiations are an example of:
A) a noncooperative game. B) a cooperative game. C) a constant sum game. D) a competitive game. E) both B and C
Figure 1A.2Refer to Figure 1A.2. The slope between points a and c is:
A. -5. B. -6. C. 10. D. 30.