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Ginger's utility function is U(x, y) = x2y, with associated marginal utility functions MUx = 2xy and MUy = x2. She has income I = 240 and faces prices Px = $8 and Py = $2.
a) Determine Ginger's optimal basket given these prices and her income.
b) If the price of y increases to $8 and Ginger's income is unchanged, what must the price of x fall to in order for her to be exactly as well off as before the change in Py?
Various financial data for 2007 and 2008 follow. Calculate the total productivity measure and the partial measures for labor, capital, and raw materials for this company for both years. What do these measures tell you about this company 2007 2008
To fund its wars against Napoleon, the British government sold console bonds. There were referred to as "perpetuities" because they would pay 3 every year in perpetuity (forever). If a citizen could purchase a console for 25, what would its annual..
two people live alone in isolated regions, have the same resources, grow potaotes and chickens, if one devotes resources to growing potatoes they raise 200 lbs a year. if they grow chickens they raise 50 a year. if they apportions some resourcs to ..
Let MUa=Z=10-x and MUb=Z=21=2y, where z is marginal utility per dollar measured in utils, x is the amount spent on product A, and y is the amount spent on product B. Assume that the consumer has $10 to spend on A and B- that is, x=y=10. How is the..
Elizabeth Pie Company has been in business for 50 years and has developed a large group of loyal restaurant customers. Giant Bakery Inc. has made an offer to buy Elizabeth Pie Company for $5,000,000. The book value of Elizabeth Pie's recorded asse..
Suppose that economists have made the following projections for the coming year Exports $540B, imports $710B, capital outflow $320, capital inflow $420. As the year is unfolding, it turns out that these projections are proving to be quite accurate
an auto assembly plant for their new Lazer Razer Sports Sedan in DeSoto Illinois. They will finance this project by issuing bonds of $1000 each. The bonds will mature in 5 years. You will be calculating what rate of interest you should expect
Adam, Joe and Estelle constitute the entire market for chicken. Adam's demand curve is given by QA = 100 - 2P Joe's demand curve is given by QJ = 160 - 4P Estelle's demand curve is given by QE = 150 - 5P Using this information, when P = 35 Adam's, Jo..
A monopolist has two types of customers.There are 100 of type A, who will each pay up to $10 for a single unit of the good, and 50 of type B, who will each pay up to $8 Neither is willing to purchase additional units at any price. If it must charg..
Suppose the price of widgets falls from $7 to $5 and consumption of widgets rises from 15 widgets a month to 25 widgets. Calculate your price elasticity of demand of widgets. What can you say about your price elasticity of demand of widgets Is it ..
Explain the multiplier intuitively. Why is it that an increase in planned investment of $100 raises equilibrium output by more than $100 Why is the effect on equilibrium output finite How do we know that the multiplier is 1/MPS
If an investor deposits $1000 now, $3000 three years from now, and $600 per year for 5 years starting 4 years from now, how much money can be withdrawn every year forever beginning 12 years from now, if the rate of return on the investment is 8%.
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