What is janets demand function for gasoline per week

Assignment Help Econometrics
Reference no: EM13236803

The government is considering increasing the tax on gasoline by $3 per gallon and has asked you to determine the impact on Janet's consumer surplus. Janet spends 5% of her income on gasoline and her utility function is Cobb-Douglas.
If her income is $1000 per week, what is her demand function for gasoline per week?

Reference no: EM13236803

Questions Cloud

What is the current flowing in the ring : Imagine that in a certain proton accelerator, roughly 1011 protons at a time go around a ring having a radius of 4.0 km, What is the current flowing in the ring, in amperes
Analyze the data using multiple regression : Analyze the data using multiple regression and what is the standard error of estimate? Can you use this statistic to assess the model's fit?
What is naoh solution volume : An NaOH solution contains 2.6 mol of NaOH, and its concentration is 1.3 M. What is its volume?
Define mass os nabr can be dissolved in 300 grams of water : If the solubility of NaBr at 25 degree C is 14.3 g/100 g H2O, what mass os NaBr can be dissolved in 300 grams of water
What is janets demand function for gasoline per week : Janet spends 5% of her income on gasoline and her utility function is Cobb-Douglas. If her income is $1000 per week, what is her demand function for gasoline per week
Graph the relationship between the two variables : Graph the relationship between the two variables and is there sufficient evidence to infer that height and length of index fingers are linearly related?
Explain whether the move will accomplish the govts goal : The local government of singapore is concerned about increasing rental costs for residents, and decides to impose a ceilong price on the maximum rents that can be charged by landlords on apatments and houses.
Define the ph of the cathode compartment solution : Calculate the PH of the cathode compartment solution if the cell emf at 298K is measured to be 0.660V when (Zn^2+)=0.22 M and(P_H2)= 0.87atm
Mutual funds minimize risk by diversifying investments : Can we infer from these data that there is a positive linear relationship between the value of the fund and the price of gold - Mutual funds minimize risk by diversifying investments they make.

Reviews

Write a Review

Econometrics Questions & Answers

  Design a simple econometric research project

Design a simple econometric research project

  Multiplicative decomposition method

Multiplicative decomposition method

  Market for cigarettes

The Australian government administers two programs that affect the market for cigarettes.

  Solve the forecast model

Solve the forecast model

  What are the marginal abatement cost functions

What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).

  Write the t statistic for testing the null hypothesis

Explain why this model violates the assumption of no perfect collinearity.  Write the t statistic for testing the null hypothesis

  What is economics system

What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type

  Multiple choice questions related to market concentration

Determine when a competitively produced product generates negative externalities in production, the industry will,

  Calculating number of units produced by firm

Assume a company has the following production function: Q = 100 K.5 L1 . Currently, the company hires 1,000 workers and employs 100 units of capital.

  Question about mobile commerce

M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.

  Calculating the average days past due and average flow time

Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:

  Mechanism of an english auction and second price auction

Briefly discuss the difference between mechanism of an oral or English auction and a Vickrey or second price auction.

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