User Account

All Pages

Find the amount of cash that the grandmother

Assignment Help Business Economics
Reference no: EM132246888

Paul consumes only two goods, pizza (P) and hamburgers (H), and his utility function is given by U(P, H) = P + 4H. The price of pizza is $3 and the price of hamburgers is $6, and Paul's income is $300. Knowing that he likes pizza, Paul's grandmother gives him a birthday gift certificate of $60 redeemable only at Pizza Hut. Though Paul is happy to get this gift, his grandmother could have made him exactly as happy by spending far less than she did. Find the amount of cash that the grandmother could give to make Paul just as well off as with the pizza certificate.

Reference no: EM132246888

Questions Cloud

Find the? stock intrinsic value : a. Find the? stock's intrinsic value? (its justified? price).
What is most likely to have happened over the year : This year at $8 per unit the firm supplied 100 units. What is most likely to have happened over the year?
Find the firm marginal cost : Suppose company XYZ operates in the wheat market. The company produces and markets wheats at a Price = $40 per container. The firm's total costs are given as:
Create a risk management plan : Create a risk management plan. Create a plan you would use to solve a major issue such as developing risk management for an athletics college program.
Find the amount of cash that the grandmother : Find the amount of cash that the grandmother could give to make Paul just as well off as with the pizza certificate.
Maximum of average product : a. For a univariate production function, the marginal product always intersects the average product at the maximum of average product.
What is the keynesian theory of money demand : What is the Keynesian theory of money demand? What is the critiques made by Friedman to the Keynesian theory of money demand?
What will be the equilibrium price and quantity : a) Suppose the supply and demand curves for skateboards in the United States are given by the following set of equations:
Create a budget for the security department : Imagine you are the security manager for a startup company and they have asked you to create a budget for the security department.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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