Qalices utility is given by x as well as y are goods as

Assignment Help Business Economics

Reference no: EM13353583

Q. Alice's utility is given by, x as well as y are goods as well as l is the amount of hours that Alice works. Alice can only spend what she earns by working at her job that pays her $10 per hour as well as by spending her interest income from her trust fund, m > 0.

a. Assume the costs of x as well as y is $12 as well as $48 respectively. What is Alice's budget constraint?

b. Assume m = $240. How much of each good does Alice buy as well as how many hours does she work?

c. Assume m = $1200. How much of each good does Alice buy as well as how much does she work?

d. Assume again that m = $240, but now Assume she makes $20/hr. Does Alice work more or less? Does this seem realistic? Assume m = $240, but she makes $100,000/hr. Does Alice work more or less? Does this seem realistic?

Reference no: EM13353583

Questions Cloud

Q a range of routine maintenance checks are made on : q. a range of routine maintenance checks are made on commercial airplanes prior to each takeoff. a particular

Qbethlehem as well as youngstown two major steel producers : q.bethlehem as well as youngstown two major steel producers accounted for about 21 percent of the national steel market

Q1 the acceleration of gravity on the surface of venus is : q1. the acceleration of gravity on the surface of venus is 8.9ms2. would a ball throw upward on venus return to the

Q 1 explain the roles and responsibilities and potential : q. 1 explain the roles and responsibilities and potential liabilities of airport operators including liability for

Qalices utility is given by x as well as y are goods as : q.alices utility is given by x as well as y are goods as well as l is the amount of hours that alice works. alice can

Q1 a college building used for engineering classes has a : q1. a college building used for engineering classes has a baseline water use of 400000 gallons. what amount of water

Q1 calculate the total fixed costs total variable costs : q1. calculate the total fixed costs total variable costs average fixed costs average variable costs average total costs

Q1 does coles account help us to understand why many : q1. does coles account help us to understand why many established religious leaders were alarmed by whitefields

Q1 what is the most important case that the tax as supreme : q1. what is the most important case that the tax as supreme court has well sales?q2. discuss why tickets scalping at

User Account

All Pages