What does her budget constraint look like now

Assignment Help Business Economics
Reference no: EM1369162

Q. Draw her budget constraint. An outbreak of potato rot raises price of potatoes to $4 per pound. Supermarket ends its promotion. What does her budget constraint look like now? What combination of meat and potatoes maximizes her utility?

Jane receives utility from days spent travelling on vacation domestically (D) and days spent 10DF travelling on vacation in a foreign country (F), as given by utility function U(D,F) = . In addition, price of a day spent travelling domestically is $100, price of a day spent travelling in a foreign country is $400 and Janes annual travel budget is $4,000. Graph Janes budget line on same graph. Can Jane afford any of bundles that give her a utility of 800? What about a utility of 1200?

 

 

Reference no: EM1369162

Questions Cloud

Determine the mass of sand added to the bucket : A 29.5 kg block is connected to an empty 1kg bucket by a cord running over a frictionless pulley. The coefficient of static friction between the table and the block is 0.50 and the coefficient of kinetic friction between the table and the block is..
How many good are paid to government for tax in this period : Suppose re are 300 of young in some period t. n, how many good are paid to government for tax in this period. In period t, how many good can each old person get and consume.
Are your financial records at risk : Are your financial records more at risk, especially given events in the news lately. Which is greater in your mind Why
What would be volume of such a bacterium : An artillery shell is fired with initial velocity of 300 m/s at 55 angles above the horizontal. to clear an avalanche, it explodes on a mountainside 42s after firing. What is the x and y coordinates of the shell where it explodes, relative to its ..
What does her budget constraint look like now : Supermarket ends its promotion. What does her budget constraint look like now. What combination of meat and potatoes maximizes her utility.
Increase the discount rate relevant to the federal funds : If there is a recessionary gap in the short run, then in the long run a new equilibrium arises when input prices and expectations adjust downward,
Explain how rsa algorithm works : Use the example to illustrate how RSA algorithm works. Deciper following ciphertext, that was enciphered using Caesar cipher.
Do ceos get paid too much : subject and construct a brief argument of whether or not you believe CEOs get paid too much. Please be sure to cite your source at the bottom of your response.
Is demand for your cds elastic or inelastic : You observe a positive relationship between price that your store charges for CDs and total revenue from CDs. Is demand for your CDs elastic or inelastic.

Reviews

Write a Review

Business Economics Questions & Answers

  Price elasticity of demand and price elasticity of supply

Price Elasticity of Demand and Price Elasticity of Supply at the equilibrium point.

  Goods and services should be included in fredonia

Examine the following list of goods and services. Which goods and services should be included in Fredonia GDP in 2009, which should be excluded, and why.

  Illustrate what is the wto

Illustrate what is the WTO. Briefly describe one trade topic identified by the WTO on the website. And, what did you learn from the Web site about the WTO.

  Company has immediately acquired another company

Your company has immediately acquired another company which has locations in Quebec also Paris.

  Why franklin reduced its minimum wage

Although there was no migration between the states, after Jan. 2003 employment rose in Hamilton and fell in Franklin. How can this be explained.

  Illustrate what fee customers were willing to pay

illustrate what fee customers were willing to pay for expedited payments, the bank conducted a survey. It was able to determine that many of the people surveyed already paid fees for expedited payment services.

  What type of goods does law of one price hold quite well

For what type of goods does law of one price hold quite well. Since PPP rarely holds at any point in time, is re any substantive meaning to terms overvalued or undervalued currency.

  Purchase of an old office building

Your firm is considering the purchase of an old office building with an estimated remaining service life of 25 years.

  Elucidate the benefits and costs of this tariff

Elucidate how are the benefits and costs of this tariff distributed among consumers and producers.

  Assume some pencil workers switch to jobs

Assume some pencil workers switch to jobs in the growing computer industry

  About tracking the us economy

What is your thought about tracking the U.S. Economy and Unemployment and Inflation.

  Discourage twinkie consumption by raising the price

School tries to discourage Twinkie consumption by raising the price to $.40, by how much will Matt's mother have to increase his lunch allowance to provide him.

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