User Account

All Pages

Show that the two utility functions given below generate

Assignment Help Microeconomics
Reference no: EM13321629

Which of the following utility functions are consistent with convex indifference curves and which are not?

a. U(X, y)=2X+SY

b. U(X, Y) = (Xy)5

c. U(X, Y)= Min (X, Y), where Min is the minimum of the two values of X and Y.

 

Show that the two utility functions given below generate identical demand functions for goods X and Y:

a. U(X, Y)= log(X) + log(Y)

b. U(X, Y) = (XY)5

Reference no: EM13321629

Questions Cloud

What is the entropy change of the ice : A 249.0 kg block of ice at 0*C is placed in a large lake. The temperature of the lake is just slightly higher than 0*C, and the ice melts. What is the entropy change of the ice
Find out the initial and final values of n associated : The hydrogen atom can absorb light of wavelength 2626 nm. (a) In what region of the electromagnetic spectrum is this absorption found? (b) Determine the initial and final values of n associated with this absorption. initial
What power input is required to maintain the sphere : The emissivity of tungsten is 0.35. A tungsten sphere of radius 1.5 cm is suspended within a large evacuated enclosure whose walls are at 300 K. What power input is required to maintain the sphere at a temperature of 3000 K
Explain how many moles of h^+ came out of the column : How many moles of H^+ came out of the column? c.) How many moles of Ag^+ were trapped by the column? d.) How many moles of Ag^+ came out of (i.e. were eluted from) the column
Show that the two utility functions given below generate : Which of the following utility functions are consistent with convex indifference curves and which are not?
Explain hi(aq) required to reach the equivalence point : The volume of HI(aq) required to reach the equivalence point : (c) The pH at the half-neutralization point. (d)The pH at the equivalence point.
Find the kinetic energy of the recoil electron : An X-ray photon scatters from a free electron at rest at an angle of 175 degree relative to incident direction. Find the kinetic energy of the recoil electron
What kind of electromagnetic spectrum is the radiation : What type of electromagnetic spectrum is this radiation? microwave ultraviolet infrared x-ray (b) If the detector is capturing 8. 107 photons per second at this wavelength, what is the total energy of the photons detected in one hour? 8.20e12 J/hr
Estimate the focal length of the mirror : A shopper standing 2.40 m from a convex security mirror sees his image with a magnification of 0.240. What is the focal length of the mirror

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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