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!
Consider the following functions of the market for a good x. Q = 20 P - 1000. Q = 6000 - 30 P. Identify the demand and the supply functions Find the equilibrium price and quantity both algebraically and graphically. What would happen ( Surplus or shortage) if this market was imposed : A price ceiling of 100? A price ceiling of 200? A price floor of 180? A price floor of 50? Calculate the elasticities of demand and supply at the following prices Price P = 75 Price P =150 Are your results in line with the theory of elasticity at lower (higher) prices for both demand and supply? Consider the following market for good x (finely divisible). Q = 2 P; and ; Q=16/√P; Identify the demand and the supply functions Find the equilibrium price and quantity What would happen (Surplus or shortage) if this market was imposed: A price of 5 dollars per unit? Calculate the elasticity of demand at the price P= 8. (Elastic or Inelastic? Why?) Consider the following cost and benefit functions: C(X, Y) = 150 X + 30 X2. B(X, Y) = 400 X - 10 X2 + 200 Y - 5 Y2 + 10 X Y . For Y = 5 Derive the benefit function Derive the marginal benefit function Derive the marginal cost function Find the value of x for which the net benefit is maximized. Calculate the values of the benefit, cost and net benefit for this value of x. Graph the marginal benefit and marginal cost and show this equilibrium graphically. (Excel) Graph the benefit and cost functions and show the net benefit maximizing value for x. (Excel) Graph the following indifference curves for the given utility levels: U (x, y) = x + y for U = 5, 6, 7, , 8, 9 and 10. (What kind of relationship exists between these goods? Substitutes, Complements? U (x, y) = min { 3x, y} for U = 3, 6, 9, 12, and 15. (What kind of relationship exists between these goods? Substitutes, Complements? Consider the utility function for a utility maximizing individual consuming two goods X and Y. U (X,Y) = X2Y + 15. This person pays 3 dollars for good X and 5 dollars for good Y with an income of 150 dollars. ( 3 X + 5 Y ≤ 150) Budget constraint. Derive the marginal utility for good x. Ux Derive the marginal utility for good Y. Uy Find the marginal rate of substitution between x and y. Find the amounts of good X and Y that maximizes this utility. Compute the utility.
explain how the short-run phillips curve the long-run phillips curve the short-run aggregate supply curve the long-run
From 1970 to 2000, the supply of college graduates to the labor market increased dramatically, while the supply of high school (no college) graduates shrank. At the same time, the average real wage of high school graduates fell.
At a management luncheon, two managers were overheard arguing about the following statement: "A manager should never hire another worker if the new person causes diminishing returns." Is this statment correct.
when measuring the gdp for a particular year why do economists include only final goods? why dont they include the
budweiser now owned by a belgium based beer company called inbev miller and coors who together produce 85 of all beer
brian and kim own a business employing 8 workers to produce commemorative t-shirts for campus organizations and events.
Consider total cost and total revenue given in the table below:
The forecasted demand for fudge for the next four months is 140, 160, 90, and 70 pounds. What is the recommended production rate if the level strategy is adopted with no back orders or stockouts
you have been hired as a consultant by your mayor to evaluate the increase in aggregate demand in the city where you
beth and bob salerno are looking at a home loan of 250000 and have been quoted 3.75 for a 30 year loan compounded
Discuss how the interplay between economies of density and the properties of hub-and-spoke networks give rise to economies of scope.
After economics class one day, your friend suggests that taxing food would be a good way to raise revenue because the demand for food is quite inelastic.
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