User Account

All Pages

Write an expression of the marginal rate of substitution

Assignment Help Business Management
Reference no: EM132330974

Suppose the utility function given: U = M2L where marginal utility of leisure (L), (MUL) = M2;  marginal utility of income money (M)(MUM) = 2ML and wage = $ 10.

  1. Write an expression of the marginal rate of substitution (MRS) in terms of L and M?
  2. What is the allocation of hours of leisure and hours of work if there 16 hours available.
  3. What is the total utility at the maximizing level?

Reference no: EM132330974

Questions Cloud

Discussion on policy making and modelling in a complex world : The work of policy makers will continue to remain unreliable unless they become conversant with uncertainties and complexities that define the way different.
United states most important trading partner : What country is the United States' most important trading partner, quantitatively?
International trade and specialization result in lower price : Please explain why international trade and specialization result in lower prices (and more domestic consumption) for imported products and higher prices
Identify a conceptual model or ebp model that would best : Florida Gulf Coast University-Write an introductory paragraph and then a summary of what is currently known about the problem.
Write an expression of the marginal rate of substitution : Suppose the utility function given: U = M2L where marginal utility of leisure (L), (MUL) = M2; marginal utility of income money (M)(MUM) = 2ML and wage = $ 10.
The keys to base stealing is push pull pattern : One of the keys to base stealing is a push pull pattern. You want to look for asymmetry on both side for the push pull pattern.
Derive the desired network function : Assuming the operational amplifier to be ideal, derive the desired network function and arrange in standard form. Identify expressions for all poles and zeros
Implement to lower taxes legally : Income Taxes is often a large expenditure from a families budget. What are some Tax Strategies that the Average American can implement to lower their Taxes lega
Public services to private contractors : What are the implications of outsourcing public services to private contractors?

Reviews

Write a Review

Business Management Questions & Answers

  How might course design differ for baby boomers

This is from my training and development course 1) How might course design differ for baby boomers compared to Gen Xers?

  Barrier is probable getting in the way of communication

What barrier is probable getting in the way of clear communication and how could this barrier have been overcome.

  Discuss the preceding phenomenon

Sharing Cost-Saving Ideas Anecdotal evidence suggests that workers who devise more efficient work techniques may have an incentive to hide their discoveries

  Crisis in public managementi am having issues understanding

crisis in public managementi am having issues understanding crisis in public management with the government. i need to

  Why sabermetric-based player evaluation

Write a critique of the article including the following points: Examine why sabermetric-based player evaluation is such a shock to other executives in baseball.

  Beyond the flames-the story of project wildfire

It is about a collaborative fire-wise effort dealing with wildland fire interface risk reduction efforts in the community of Bend, Oregon.

  Effective or ineffective in communicating

Students start to think about how change may impact an organization, how leadership is effective or ineffective in communicating, and to hear from other students about types of changes experienced or researched. Organizations are impacted by chang..

  Minority of people feel uncomfortable trying

If people do not feel their voices are heard they will not be engaged in the workplace.

  Describe how an organization would determine

Research and describe how an organization would determine, deploy, and control a change to a significant procedure.

  Selecting a company for a research project

When selecting a company for a research project, you have to make sure that the company is re-searchable with enough data

  International sector what other solution

If there is a problem other than leaving the international sector what other solution is there?

  How big a private organization can become

Should there be a limit on how big a private organization can become? Should smaller companies be exempt from CSR expectations?

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