Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Suppose Danielle consumes pancakes and waffles. Her utility function can be expressed as U(P,W)=10P^.75 W^.5. Furthermore, suppose the price of pancakes is $4.00 and the price of waffles is $2.50.
–Define Danielle’s marginal rate of substitution for PW and the resulting tangency condition under this price paradigm.
–If Danielle’s income is $200.00 and she only buys waffles and/or pancakes, what is her optimal bundle?
–Suppose Danielle moves from Cincinnati to New York City and the price of waffles increases by $1.50. What is the new optimal bundle? Calculate the new income that would be necessary to make Danielle equally happy in both NYC and Cincinnati.
–Sketch the graph.
In the hedonic pricing model of job risk, steep indifference curves indicate: A reduction in the wage causes the opportunity cost of a vacation to the Bahamas to:
discuss Colgate-Palmolive's revenue, gross profit margin, operating profit margin, and strategies of the firm. Explain how industry consalidation has impacted the company and make projections about the long-term prospects for the company.
In jury selection, one cannot exclude potential jurors on the basis of race or other discriminatory criteria. One question is if this prohibition against discrimination should extend to potential jurors that have physical or mental disabilities. How ..
Assume you just deposited $1,000 into a bank account. The current real interest rate is 2%, and inflation is expected to be 6% over the next year. What nominal rate would you require from the bank over the next year? How much money will you have at t..
Consider the horizontal quality model on the unit interval from 0 to 1. There are N consumers located uniformly along the interval. There are two firms, with zero marginal costs, initially located at 0 and 1. Solve for the equilibrium price if both f..
The average unleaded gasoline price for california residents on May 30, 2011, was $4.12 per gallon. Assuming that the base period (price index = 100) is 1996 and that the unleaded gasoline price for that year was $1.10 per gallon, compute the average..
There are different theories of intelligence—some are based on psychometric principles (or on how intelligence has been measured) while others rely on the cognitive viewpoint. Compare the psychometric and cognitive theories of intelligence. Choose on..
An unnamed economist enjoys drinking beer while watching the tv show, Game of Thrones. He (or she) can buy beer in 12 oz bottles or 16 oz bottles (real pints). What do we call the relationship between 12 oz and 16 oz bottles for this economist? In th..
Note that the current and capital accounts in the U.S. Balance of payments (BOP) are mostly private transactions while the official settlements balance involves transactions between governments. If trade with China causes more imports than exports in..
In a long run aggregate supply and demand context where the economy starts with an output gap of $500 billion, the reserve ratio is .1, and the Federal reserve buys $50 billion in bonds, show the effect of this monetary policy. Assume banks loan out ..
Why is the burden of a tax to taxpayers greater than the revenue recieved by the government. Why do some economists advocate taxing consumption rather than income.
It is common for supermarkets to carry both generic (store-label) and brand-name (producer-label) varieties of sugar and other products. Many consumers view these products as perfect substitutes, meaning that consumers are always willing to substitut..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd