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!
Julio receives utility from consuming food (F) and clothing (C) as given by the utility function U(F,C)=FC. In addition, the price of food is $2 per unit, the price of clothing is $10 per unit, and julio's weekly income is $50.
a) What is julio's marginal rate of substitution of food for clothing when utility is maximized? Explain.
b) Suppose instead that Julio is consuming a bundle with more food and less clothing than his utility maximizing bundle. Would his marginal rate of substitution of food for clothing be greater than or less than your answer in part a? Explain.
The W Company is a member of the beef industry, which is perfectly competitive. The price of a beef is $60. The firm’s total cost function is TC = 100 + 10Q + 5Q2 where TC is total cost (in dollars) and Q is hourly output. What is the firm’s economic..
Consider the invention and adoption of the mechanical tomato harvester on the farm labor market. Illustrate the expected impact of the invention of the mechanical tomato harvester on the farm labor equilibrium when farmers believed that the end of th..
Draw a supply and demand curve, label X & Y axis and show equilibrium. Show a shift in demand and supply, and why it has occurred (non-price determinants). Describe all changes. Show in two or more graphs and use 2 examples for each - supply and dema..
According to the rule of 72, if a nation’s per capita real income persistently grows at a rate of 3 percent per year, in how many years will its level of per capita real income double? What about if the persistent rate of growth is 4 percent?
describe how current economic conditions affect your organization or one with which you are familiar. Identify most important economic indicator affecting your organization and elucidate why.
Do these countries experience diminishing returns to physical capital per workee. And technology are held fixed in each country, can you recommend a policy to generate a doubling of real GDP per capita in Albernia. Amount of human capital per work..
Citizens can protect themselves in the case of robberies or harm by using these guns. Other states do not allow citizens to carry handguns
Andrew has decided to open an online store that sells home and garden products. After searching around, he chooses the software company Initech to provide the software for his website since their product required the least amount of specialized inves..
What will happen to the rate of inflation? How would the central bank react to the change in velocity if it pursued an NGDP target instead of a money stock target?
The long-run total cost function for a firm producing skateboards is. Calculate the marginal cost function. What is marginal cost at the output level in part b?
Consider the economy whose data appear in the table below. Working-age population 100,000 Labor force 80,000 Unemployed 12,000 Instructions: The unemployment rate is %. The labor-force participation rate is %.
Paul invest $700 in the manufacturing of lights. during first two years, he earns $1700 each year. after that, the operation folds and he earns nothing. Paul's discount rate is 20%. what's the NPV of Paul's operation?
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