Quantity demanded for good

Assignment Help Business Economics
Reference no: EM131101679

Alex has a utility function U=3 sqrtXY The price of good X is $1, the price of good Y is $2, and her income is $100. Her quantity demanded for good X is ___ Her quantity demanded for good y is___

Reference no: EM131101679

Questions Cloud

According to classical economic theory : Assume an economy is closed. According to classical economic theory, explain what will be the long run effects of an increase in taxes. You may want to organize your answer around these three parts: A) Aggregate Supply/Output (includes a discussion o..
Construction firm needs new small loader : A construction firm needs a new small loader. It can be leased from the dealer for 3 years for $5500 per year including all maintenance, OR it can be purchased for $20,000. The firm expects the loader to have a salvage value of $7,000 after 7 years.
Describe their relationship to one another : Define the following concepts and describe their relationship to one another:
Monopolistic competitition differs from perfect competition : Monopolistic competitition differs from perfect competition primary because in monopolistic competition,
Quantity demanded for good : Alex has a utility function U=3 sqrtXY The price of good X is $1, the price of good Y is $2, and her income is $100. Her quantity demanded for good X is ___ Her quantity demanded for good y is___
Create loyal customers as these markets emerged : Few years back, HP launched four new computer models aimed at the Chinese and Indian consumer markets to create loyal customers as these markets emerged. Using penetrating pricing strategy, HP priced the new computers under $400, significantly less t..
Calculate its accounting profit : Consider a perfectly competitive, profit-max firm that sells its output for $10 each and produces and sells 925 units. Its total variable costs are $4000 and its total fixed costs are $3600. Calculate its accounting profit.
Firm in monopolistic competition : In the short? run, a firm in monopolistic competition? ______.
Marginal revenue is equal to marginal cost : A monopoly is producing a level of output such that marginal revenue is equal to marginal cost. The firm is selling its output at a price of $10 per unit and is incurring average variable costs of $5 per unit and average total costs of $8 per unit. G..

Reviews

Write a Review

Business Economics Questions & Answers

  Elucidate impact the price elasticity of the product

Elucidate how the necessity of a good and the availability of substitutes impact the price elasticity of the product. The product is beef.

  Coliseums of ancient rome making huge salaries

2,000 years ago gladiators fought in the Coliseums of Ancient Rome making huge salaries. Is this an example of a "Winner - Take" all society? Explain how this is still a big part of today’s US or any other typical Western Society. What about a NFL Fo..

  Rationale and efficiency effect of strategies

Identify the exclusionary pricing practices and why and when they are prohibited by the Competition Act. What are the economics rationale and efficiency effect of these strategies?

  Using the existing stock of farm machinery more intensely

Explain why the reduction in employment would be less than 5 percent in the latter case. In light of the short-run elasticity of demand for migrant workers, how easy do you think it would be for the industrial farms to replace the workers’ efforts by..

  Significance of whether a contract must be in writing

Please explain the significance of whether a contract must be in writing. This would include an explanation of the type of contracts that would fall inside and outside the Statute of Frauds.

  Big computer manufacturers have little intel inside

All the big computer manufacturers have little "Intel Inside" logos in their television advertisement.

  Imply concerning productivity or standard of living

Suppose that real GDP grew more in Country A than in Country B last year. Which of the following does this imply concerning productivity or standard of living?

  What would the neo-classical policy prescription

Around 2000, the dotcom bubble in the stock market burst and the US entered a recession. What would the neo-classical policy prescription have been for the US government and the Federal Reserve to do about this recession? How would this have operated..

  What is the traders profit if the stock price

A trader sells a 2-month call option contract on 100 shares of a stock with strike price $50. The price of the option is $5. Suppose the options are held until the end. What is the trader’s profit if the stock price is $58 then?

  In a fixed exchange rate system

In a fixed exchange rate system, how do countries address the problem of currency market pressures that threaten to lower or raise the value of their currency?

  Commonly held core value among tribal people

Select the item below that is a commonly held core value among tribal people.

  Returns to scale do these production functions exhibit

The BlackBerry production function is Q = 2.83L1.52K0.82. Epple et al. (2010) estimate that the production function for U.S. housing is q = 1.38L0.144M0.856, where L is land and M is an aggregate of all other mobile, non-land factors, which we call m..

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd