In a society where it is mandatory to share the product of one's work with others, economics predicts that people will than they would if they could keep the full product of their work.

Amarket that consists of all possible consumers regardless of their specific needs or wants is a

David consumes two things: gasoline (g) and bread (b). david's utility function is u(g, b) = 10g^0.25 b^0.75. use the lagrange technique to solve for david's optimal choices of gasoline and bread as a function of the price of gasoline, p_g, the price of bread, p_b, and his income m. with recent decrease in the price of gasoline (maybe due to external shock such as shale gas production) does david increase his consumption of gasoline? for david, how does partial differential g/partial differential p_g depend on his income m? that is, how does david's change in gasoline consumption due to an increase in the price of gasoline depend on his income level? to answer these questions, find the cross-partial derivative, |partial differential^2 g/partial differential m partial differential p_g.

Bob, an employee at machina corp., is well known among his colleagues because of his temper and impatience. during a heated argument with one of his supervisors, he reacts with hostility. bob's manager calls him in for a discussion and listens to what he has to say about the incident, while treating him with dignity and respect. this scenario can be best categorized as one that used