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!
Find the MUx , MUy, and MRS equations for each of the following utility functions.
a. U = x0.6y0.4.
b. U = x2 + y2x,y>0.
c. U = 2x + 4y.
d. U = x2y2.
e. U = xayb.
1. For (a)-(d), which of the utility functions exhibit diminishing marginal utility for good X? Hint: Using your equation for MUx, determine if MUx falls as X rises.
2. Which of the above utility functions exhibit diminishing MRS? (That is, which of the above yield convex indifference curves?).
3. Do you think diminishing marginal utility is a necessary condition to get diminishing MRS? Use your answers for (a), (d), and (e) to justify your answer.
Diseconomies of scale occur mainly because: of the law diminishing returs, firms in an industry must be relatively large in order to use the most efficient production techniques, of the inherent difficulties involved in managing and coordinating a la..
The growth rate of the money supply is 7%, the inflation rate is 3%, and velocity is constant. What is the growth rate of real GDP?
mos eisley cantina is the only tavern in a small remote planet. demand at moss is qd 880 - 200p while the daily total
Find the equilibrium quantity and price. What is the total health expenditure on the services considered in the demand-supply functions?
Explain, illustrating with graphs as necessary-be sure that the shape of your supply and demand curves make economic sense.
Given the above information, what is the value of output? What is the total cost of producing the output you calculated in (a)? What is the average total cost of producing this level of output? Round your answer to the nearest hundredth.
How do you explain and predict hospital behaviors if using the utility-maximizing
Assume that all grapes in this economy are used to make wine. Compute nominal GDP for 2000 and 2001 - Find the GDP Deflator for 2000 and 2001 on a 100-point scale.
The Big Black Bird Company (BBBC) has a great order for special plastic lined military uniforms to be used in an urgent military operation.
Take a look at the Productivity Growth Rate over the past twenty years and over last five years, and describe the macro economic implications such as Potential GDP, GDP growth and inflation,
Describe the Diamond-Water paradox and the solution. Explain why price is greater than marginal revenue for a single-price monopolist and how this differs from perfect competition.
Explain why do you think that whenever the government needs to raise their revenue they usually decide to increase the tax on items such as gas
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