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If MU=MC=P, and economist van judge with certainty that the distribution of output is
- Equal
- efficient
- Fair
- Unbiased
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- The net reproduction rate of a population is defined as r=b1+b2s1+b3s1s2+.......bns1s2.....sn-1 where the b1 are the birth rates and the sj are the survival rates for the population . Explain why r can be interpreted as the average number of daughters born to a single female over her lifetimIs the answer b?subjects are offered $225 now, period 0 Or some amount Xt, period t What is Xt to persuade them to wait results were X1=$375, X2=$400 (subjects'll accept $375 instead of $225 in t=1, and receive $400 in t=2) How the results violate exponential discounting model?
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