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!
Sally the Sleek’s preferences can be described by the utility function U(x,y) = x^2y^3/512. Prices are px = 2 and py = 6; she has an income of $80 to spend.
(a) If Sally initially consumed 4 units of x and 12 units of y, how much additional utility does she get from spending one (small fraction of a) dollar more on good x? How much additional utility does she get from spending one (small fraction of a) dollar more on good y?
(b) By how much would her utility change if she stayed on the same budget and consumed 4 (“small”) dollars worth more of x? Judging from this, can the allocation of x = 4 and y = 12 be optimal?
(c) How much should Sally consume of x and y in order to maximize utility, given her income?
If we select 7 colleges from a major and then record whether they are of 'School Type' 'Private' or not, is this experiment a binomial one? Why or why not?
q1. does the existence of poverty imply that our socioeconomic system is unjust? does the concentration of poverty in
Plotting the supply of labor In Denver, 140 people are willing to work an hour as hostesses if the wage is $10 per hour. For each additional $5 that the wage rises above $10, an additional 35 people are willing to work an hour. What is one explanatio..
Draw your budget constraint assuming that you pay no taxes (and receive no subsidies) on your income. On the same diagram, draw another budget constraint assuming that you receive a 20 percent subsidy (that is, for every dollar you receive in labor m..
Suppose that Omar’s marginal utility for cups of coffee is constant at 2.5 until per cup no matter how many cups he drinks. On the other hand, his marginal utility per doughnut is 10 for the first doughnut he eats, 9 for the second he eats, 8 for the..
Make sure to include all appropriate graphs with supply and demand, the initial equilibrium and the shift in the supply or demand curve and the corresponding change in the price and quantity in each graph, as well as an intuitive explanation.
If most cartel members keep their agreement to cut back production. People sometimes point to similar gas prices at competing gas stations as evidence of collusion when they could just be selling at market price. If this is not good evidence of collu..
What is the Keynesian solution to a recession or depression? How does the Keynesian multiplier work? What kind of policies were/are proposed to help get us out of this recession?
Examine the table Turkeys. Trader Tom is a monopolist that sells fried turkeys for Thanks giving dinner for a constant marginal and average cost of $10 per turkey. Assume that Tom has no fixed cost. Tom has 6 potential customers, each of which will b..
Suppose the monopolistically competitive barber shop industry in a community is in long-run equilibrium, and that the typical price is $20 per haircut. Moreover, the population is rising. Illustrate the short-run effects of a change on the price and ..
Explain why the International Trade Administration suggest that some causes piloting the growth in the world population, rising incidences of chronic diseases, increasing elderly population, and higher disposable incomes. Other reasons motives includ..
Which one is more effective comparing with the tools of fiscal policy?
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