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!
An economy has a total amount of 100 units of a good to allocate between two persons-Amanda and Britney. Amanda's utility level is given by UA = QA, where QA is the number of units she consumes of the good. On the other hand Britney's utility level is given by the function UB = 10V QB where QB is the number of units of the good she consumes.a) If all of the society's resources are used to make Britney happy, what are the utility levels for Amanda and Britney? If, instead, all the units are used to make Amanda, what are the utility levels for each one of them?b) Derive the equation for the utilities possibility curve for this two man economy. That is, derive an equation that expresses Britney's utility as a function (measured on the vertical axis) of Amanda's utility measured on the horizontal axis. Including end points plot several points on the graph. c) Suppose a politician promises a program that will give Amanda and Britney 70 units of utility for each. Should they believe this promise? Why?d) Suppose resources in the economy are distributed so that Amanda has a utility level of 64 units and Britney has utility level of 50 units. Is this distribution of utility (Pareto Optimal) efficient? If not, why?
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
Assume an endogenous growth model with labour augmenting technology.
What is output that should be produced to achieve economic efficiency and the value to society for correcting the externality.
The People's Bank of China, the country's central bank, raised the reserve requirements of its top commercial banks to put a squeeze on the credit market
Tthe price of elasticity of supply is of apartment is 0.50 use the demand and supply curve to show the initial equilibrium point a.
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.
If the returns of the risky portfolio are normally distributed, what is the probability of returns being less than 29%.
Economists argue that the move from barter to money increased trade and production. How is this possible.
Assume that during the last month of the tenth year of ownership, the property in Problem 2 is sold for 1,500,000. Assume also that the seller incurs transaction costs equalling 6 % of the sales price.
The overall effectiveness of the organ procurement system in the United States. What are its strengths and weaknesses.
Assuming that land and labour are complements in a farming production function, what would happen to the wages earned by workers and the rents earned by landowners in Texas.
Based on the IRS actuarial table, Mario has a life expectancy of 20 years. If Mario receives 12 monthly payments of $1000 the first year, how much taxable income must he report on his tax return.
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