What is the point based on the equimarginal rule

Assignment Help Macroeconomics
Reference no: EM13223950

Assume the price of baseballs is $5 and baseball gloves is $20. Assume you have $100 total to spend on these items. Construct a table . What is the point, based on the Equimarginal Rule, which has equal marginal benefit (or the closest) for the two purchases?

Reference no: EM13223950

Questions Cloud

Define what is the binding energy : What is the binding energy, in amu, of 13C? Masses are: proton = 1.00728 amu, neutron = 1.00867 amu, electron = 0.00055 amu, and 13C = 13.00335 amu.
What are its choices : You are an analyst for a firm that imports and distributes specialty oils and vinegars, and your company wants you to evaluate its options for taking advantage of cutting-edge business analytics. What are its choices? What will you recommend?
Which would be more of an issue in asian societies : Of the four conflicts that characterize teenagers, which would be more of an issue in Asian societies where conformity is highly valued.
Explain the mass loss per nucleon : On forming the nuclide from the protons, neutrons and electrons, the mass loss per nucleon for the is 0.00759 amu, whereas that for is 0.00944 amu. This means that:
What is the point based on the equimarginal rule : Assume the price of baseballs is $5 and baseball gloves is $20. Assume you have $100 total to spend on these items. Construct a table . What is the point, based on the Equimarginal Rule, which has equal marginal benefit (or the closest) for the tw..
Influences of technology on customers needs : Critically analyse, with relevant examples, how this revolution is affecting international consumer behaviour and influences of technology on customers needs
Does either player have a dominant strategy : Suppose two world leaders "Nikita" and "Margaret" are engaged in an arms race and face the decision whether or not to build a missile. The payoffs of Nikita and Margaret are as follows: If both build a missile, both receive the payoff -10. If both ..
What is the probability that no cars are in the system : A two channel operation with two service windows and two wmployees. The employee station at each window fills the order and takes the money. The average service time for this is 2 minutes for each channel.
Explain salt would use and at what molar concentration : It is desired to produce an aqueous solution of pH=8.75 by dissolving one of the following salts in water at 298 k. Which salt would you use and at what molar concentration?

Reviews

Write a Review

Macroeconomics Questions & Answers

  Law of increasing opportunity costs-production possibilities

Show such data graphically. Upon what specific assumptions is this production possibilities curve based? If the economy is at point C, what is the cost of one more automobile? Of one more forklift? Describe how the production possibi..

  Calculate the value of funds needed

An engineer considering for retirement decides that she wants to have income of $100,000 per year for 20 years with the first withdrawal starting 30 year from now.

  Adam smith''s theory of value and limitations

In this model of society no capital and no wage labor. The commodities are valued based on hours of labor that needed for the production.Based the above the only input that used to find the cost of a commodity is labor.

  The setup activity price driver rate

The setup activity price driver rate, using the best cost driver for this situation.

  Why would a nation such as the united states

Why would a nation such as the United States, which can presumably produce everything it needs itself, choose to trade with other nations?

  What was the growth rate of output

THe production function is y= a * Ka * L1-a, If a= 0.3, and over the past year total factor productivity grew 2.3 percent, capital grew 2 percent, and labor grew 3 percent, what was the growth rate of output?

  Budget set formation and explanations for concepts

Describe the opportunity cost of good 1 in terms of good 2. Find out the opportunity cost of good 1 at the point where x1=1.

  Will fields with both oile and gas have greater difficulties

Some fields have large enough quantities of both oil and natural gas that coordination must be achieved for the production of both, rather than oil alone as in our examples. Will fields with both oile and gas have greater difficulties in unitizati..

  How each barrier can foster either monopoly or oligopoly

Discuss the major barriers to entry into an industry. Explain how each barrier can foster either monopoly or oligopoly. Which barriers, if any, do you feel give rise to monopoly that is socially justifiable

  Define the effect of decrease in capital

Consider a country where the velocity of money is constant. Real GDP grows by 3% per year, the money stock grows by 4% per year, and the nominal interest rate is 3%.Using the approximate Fisher Equation what is the real interest rate in the economy..

  Calculating additional income using utility function

The utility function of a worker is represented by U(C,L) = C X L, so that the marginal utility of leisure is C and the marginal consumption is L.

  Macro economic important questions

As a portfolio manager whose company has investments in a country with a high level of debt what would you do to raise your companies profit or protect their interest if;

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