Determine the mrs, I have two goods, Xb and Xw, for beer

Determine the mrs

Reference no: EM13177565

I have two goods, Xb and Xw, for beer and wine, and I need to draw the indifference map and determine the MRS. U(Xb, Xw) = min { Xb; aXw}, a>0. What do I need to do here? What does this look like?

Reference no: EM13177565

Questions Cloud

Describe quantity demanded demand increases : If my income increases by 10%, then quantity of public transportation demanded drops by 5%. I can say that income elasticity of my demand for public transportation is negative and that public transportation is a normal good. If the demand for chee..

At what rate is the total cost changing at that moment : when 1500 units are being produced, the level of production is increasing at the rate of 20 units per week. what it the ttal cost at this time, and at what rate is the total cost changing at that moment?

What is the duty of disclosure : What is the duty of disclosure, what is the duty of "utmost good faith" ?

Advise gordon and pamela about capital gains : Advise Gordon and Pamela about capital gains and income tax consequences and any effect that their son's tax treatment of the payment will have on them. You should discuss possible discounts and exemptions that may be available to them.

Determine the mrs : I have two goods, Xb and Xw, for beer and wine, and I need to draw the indifference map and determine the MRS. U(Xb, Xw) = min { Xb; aXw}, a>0. What do I need to do here? What does this look like?

Find maximum score of candidates : Engineer collegues requires applicants. Asssume that the average score was 498 with standard deviation of 77 . Assume that scores are normally disturbuted

Find the maximum height reached by the flare : The height , y meters, of an emergency flare fired upward from a small boat can by modelled by the function y= -5(x-4)squared+80, where x seconds is the time since flare was fired.

Consolidation worksheet for ogre ltd : Consolidation worksheet for Ogre Ltd and its controlled entity for the period ended 30 June 2012-12 and the consolidated statement of financial position of Ogre Ltd and its controlled entity as at 30 June 2012.

Determine the growth rate of the economy''s real gdp : Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of real GDP per capita? (Instructions: Round your answer to two decimal places.) The growth rate of the economy's real GDP per capita = %

User Account

All Pages