Give marginal rate of substitution

Assignment Help Econometrics

Reference no: EM13189888

Utility function: U(x,y) = x^1/2 + y

A) graph a typical indifference curve, choose a level of utility and draw various combinations

B) write marginal utility of x and y

C) give marginal rate of substitution

Reference no: EM13189888

Questions Cloud

Behavior of the fishermen : The changes in behavior of the fishermen on Tangier Island since 1997 best reflects

Definition of normal-abnormal vary from culture to culture : How does the definition of normal and abnormal vary from culture to culture? Can you think of examples in our culture where what is considered normal by some is considered abnormal by others?

Determine prices and quantity in each market : A firm produces two different goods, with demand given by the following Pa=100-2Qa-Qb and Pd=90-2Qb where Pa=price of good A Pb=price of good B, Qa=quantity of good A and Qb= quantity of good B there are 30 units of each in storage

Oral presentation for social entrepreneurship class : Write a pitch, try to get somebody to attend, join or get involved or their money into something, request their time/money. The presentation takes 3 mins. Bridge in an inspiration of some current event, incorporate that current event during the pitch..

Give marginal rate of substitution : Utility function: U(x,y) = x^1/2 + y A) graph a typical indifference curve, choose a level of utility and draw various combinations B) write marginal utility of x and y C) give marginal rate of substitution

Encourage high ethical standards : List two ways organizations can encourage high ethical standards. In your opinion, who or what entity must be responsible for encouraging and maintaining ethical standards at the organizational level?

Feature detection and tracking or key frame : The algorithm to be built is either Feature Detection and tracking or Key frame mapping and the options I have explored is to use Kinect SDK+ Microsoft Visual Studio+ C++or C#(WPF)(MRPT Libraries as an option)

What would japans output per capita : At the end of 1973 Japan had a per capita real output of $14,379. If, on average, Japan's real per capita output grew at a rate of 3 percent per year between 1973 and 1993. What would Japan's output per capita have been at the end of 1993

Did merger affect the product or price : Mergers are treated differently, depending on the type of merger and the effect on the industry. There are three types of mergers: Horizontal mergers are between companies selling similar products in the same market; Vertical mergers are between f..

User Account

All Pages