User Account

All Pages

Draw the consumer budget constraint

Assignment Help Macroeconomics
Reference no: EM131211767

For each of the following situations, draw the consumer's budget constraint, indicate the optimal bundle on the graph, and accurately draw the indifference curve that runs through the consumer's optimal bundle.  Be sure to carefully label your graph.

a) U(X,Y) = XY2.  The consumer has $24 to spend and the prices of the goods are PX = $2 and PY = $4.  Note that the MUX = 2XY and the MUY = X2.

How do I draw the graph?

Reference no: EM131211767

Questions Cloud

Conduct an analysis of us homeland security policies : Conduct an analysis of one or more U.S. homeland security policies, to assess the ability of the policy or policies to counter the threat posed by the group profiled.
Terms of return on investment and residual income : Consider the following data, which relate to the two divisions of McIntyre Products: Division 1 Division 2 Total assets $68,300,000 $23,000,000 Noninterest-bearing current liabilities 4,470,000 2,270,000 NOPAT 12,200,000 5,970,000 Required rate of re..
Design of a bus arbitration sequential circuit for computer : If all input variables are 0, it sets all output variables to 0. Design two such arbitration circuits, one that grants priority to the lowest indexed input that is 1 and a second that grants priority alternately to the lowest and highest indexed i..
Calculation of debt-to-equity ratio : Explain how stocks and bonds impact the calculation of debt-to-equity ratio.
Draw the consumer budget constraint : For each of the following situations, draw the consumer's budget constraint, indicate the optimal bundle on the graph, and accurately draw the indifference curve that runs through the consumer's optimal bundle.  Be sure to carefully label your gra..
How socioeconomic factors may influence your topic : How socioeconomic factors may influence your topic? How human behavior affects evacuation and rescue procedures for you topic? What aspects of panic does your topic audience need to be aware of?
Teams doing to cause persistent shortages : According to Porter and Thomas, what are sports teams doing to cause persistent shortages? How can these shortages be rational, profit-maximizing pricing strategies? You will need around 100 words to thoroughly answer this question.
Finds the largest number of times that a key is repeated : Sketch a data-parallel program that operates on a sorted list of keys and finds the largest number of times that a key is repeated.
Custom-designed hand tooled briefcases and luggage : A leather shop makes custom-designed hand tooled briefcases and luggage. The shop Make $400 profit from each briefcase and $200 profit for each luggage. The shop has a contract to provide up to a total of 30 products to a store per month.

Reviews

Write a Review

Macroeconomics Questions & Answers

  Equilibrium price and output in short run and long run

Find out the average total cost and average variable cost as a function of the level of output. Assuming the firm has the same cost curves in the long-run for q>0 and C (0) =0, how much will it produce in the long-run?

  Determine the present value of these future savings

A new widget, with a service life of four years, would save $50,000. in production costs each year. Using a 12.00% nominal annual interest rate, determine the highest price that could be justified for the widget, i.e., determine the present valu..

  Consider the labor market

Consider the labor market. If the government imposes a binding minimum wage on employers, how will this affect the labor market, ceteris paribus? (Carefully label the salient portion of your graph.)

  Uses of the cross-price elasticities

Market analysts often use cross-price elasticities to determine a measure of the competitiveness of a particular good in a market.

  Explain reason for announcing the price of a product

Texas instrument once announced a price for random-access memories that wouldn't be available until two tears after the announcement few days later; Bowmar announced that it would produce this product and sell it at a lower price than Texas instru..

  Involuntary unemployment

Which of the following is/are an example of involuntary unemployment ? 1. a housewife 2. a student

  How does the assignment of property right affect the outcome

Discuss the various ways governments can handle externalities, such as noise from a local airport or a barking dog or building of commercial office space or an industrial building in a residential area How does the assignment of property rights af..

  How is unemployment measured and reported

What is the labor force participation rate and what was the labor force participation rate in 2008 - How is unemployment measured and reported?

  Eliminate the shortage and again

A. Graphically show and explain how carpooling may eliminate the shortage and explain your answer. B. Graphically show and explain how building more freeway may eliminate the shortage and again explain your answer

  Limitations of using fiscal policy

In theory, fiscal policy can be used to prevent inflation and avoid recession. But, in practice there are many limitations of using fiscal policy. Discuss the statement.

  Estimated from straight-line depreciation

The maintenance costs for the gas furnace are covered under guarantee for the first five years. Themarket value of the gas furnace can be estimated from straight-line depreciation with a salvagevalue of $500 after 10 years. Using a MARR of 10 perc..

  Why would we have any reason to be involved in international

If our country (US) can make everything better and cheaper than foreigners, why would we have any reason to be involved in international trade?

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd