User Account

All Pages

Optimal choice when the consumer faces

Assignment Help Macroeconomics
Reference no: EM131326042

U(X,Y)=lnx +2lny

a) What is the optimal choice when the consumer faces a budget 3x+y=225? call this bundle A(25,150)

b) Suppose Px becomes 5, giving us 5x+y=225, what is the new optimal? with bundle (15,150)

c) Suppose  the consumer's income increases to M, find M if it is known that bundle A is on the new budget line 5x+y=M (275)

d) What is the consumer's optimal choice with budget 5x+y=M (18 and 1/3, 183) (use M that you found in part C) call this bundle D

Reference no: EM131326042

Questions Cloud

What are the ethical implication of the data challenges : Write a two page, single space, 12 point ft, inch margin paper on your impressions on the two topics: what are the data challenges you observe. what are the ethical implication of the data challenges.
Annual rate of change for k : Say that in year 1 both K and L have values of 1 while in year 10 K has a value of 1.35 and L has a value of 1.1. What is the annual rate of change for k (note the lower case)?
Describe techniques for developing prototypes of interfaces : Describe techniques for developing prototypes of user interfaces. Describe the items that you added to your interface design. Be specific with your descriptions, and identify the particular design features along with an explanation of why they are ..
What you learned about data protection in online environment : IT 200: Based on what you have learned about data protection in an online environment, prepare a presentation to a department head or the CEO of a company to convince audience that data protection controls would benefit their business.
Optimal choice when the consumer faces : a) What is the optimal choice when the consumer faces a budget 3x+y=225? call this bundle A(25,150) b) Suppose Px becomes 5, giving us 5x+y=225, what is the new optimal? with bundle (15,150)
What can be done to improve customer relationship management : Explain the way(s) an organization with which you are familar measures quality and customer satisfaction. What can be done to improve CRM(Customer Relationship Management)?explain how you can personally have a positive impact on customer loyalty i..
Marketing and economic approaches deal : "All else held constant" is a major problem facing all methods of estimating the demand for business products. Compare and contrast how the marketing and economic approaches deal with this problem. Please use examples.
Implement the portions of the calic algorithm : Extend jpegll__enc . c and jpegll__dec . c with an additional prediction mode- be creative! Compare the performance of your predictor with the JPEG predictors.
Kinked demand curve : Explain why the "kinked demand curve" model of oligopoly represents a game theory approach to oligopolistic behavior.

Reviews

Write a Review

Macroeconomics Questions & Answers

  Explain why is the federal income tax progressive

Do you think the argument against redistributing income through income taxes based on reducing economic efficiency is a strong one. Provide an example where a business did not expand because the possible taxes on the profits due to that expansion.

  Allocating the budget in order to achieve objective

Suppose you are manager of customer service department at a bank and you want to hire customer service representatives for a newly opened bank branch.

  What is money

What is money? How has the monetary system solved many problems the economy faced from barter?

  Calculate the velocity and acceleration vectors

Calculate the velocity and acceleration vectors and the speed at t=pi/4 for a particle whose position at time t isgiven by vector r(t)=(cost t) i +( cos 2t) j +( cos 3t) k.

  What are the equilibrium payoffs

They continue this way until either a) a plan has been approved, or b) only P5 is still alive (in which case he keeps the whole treasure). We'd like to know what happens with the treasure. Before we consider the outcome, there are a few important ..

  Pursuit of economic progress and security

The Great Recession has put cities in economic peril and state officials in political turmoil. The Governor of New York State believes that the strength of the state's economy lies in the vitality of its metropolitan areas. However, the governor k..

  Problem of unsustainable investment

1. To illustrate the problem of unsustainable investment, Woods cites the example from Mises of the bridge builder that runs out of material before reaching the other side of a river.

  Devastating impact on our national economy

The demise of the U.S. auto industry would have a devastating impact on our national economy and specifically the economies of Michigan and Ohio.

  Obtain an estimate of country-level tfp

Briefly interpret what the point estimates of the α and β coefficients would mean. Also explain how these estimates could be informative to verify whether the country-level production function has constant returns to scale.

  How were slaves involved in the new england economy

How were slaves involved in the New England economy in the 17th and 18th centuries and biotech is just one of several up and coming industries in Massachusetts. Give some reasons that Biotech has clustered here and what are some other industries t..

  Relationship between labor and output

A sketch of this firms W/MRP labor market diagram is shown below. The profit maximizing point is labeled (point A) and the blue shaded area is the profit. You should be comfortable handsketching the graph below using the information from table A.

  Explain how would this affect your pricing strategy

In the 1990s Japan reduced its exports of automobiles to the United States by 28 percent. If you were the manager of a US car dealership, explain how would this affect your pricing strategy.

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