Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Mikes' preferences for consumption and leisure may be represented by the Utility function: u(C, L) = ( C-200)*(L-80) . His marginal utilities of leisure and consumption are (C-200) and ( L-80) respectively. There are 168 hours in the week available for both work an leisure. He earns a nominal wage of $20 and the price of consumption goods is $4. He also receives a nominal amount of $1280 of non-labour income as a transfer. Note: First, make it all real!
a) Graph Mikes' budget line and label all.
b) If Mike works 40 hours and he is on the budget line, what is his MRS?
c) What is his optimal amount of consumption, leisure and work?
d) What is his nominal reservation wage?
demand curve
derivation of demand funcation using indifferance curv ordelreay and competed demand curv
The Technology of Production * The Production Process - Combining inputs or the factors of production to attain an output * Categories of Inputs (or the factors of prod
Determine The Rule of Divergence in General Though even if attention is confined to non-communist-ruled economies there still has been huge divergence in relative output per w
Indifference curve definition
A newspaper recently lowered its price from 50 cents to 30 cents. As it did, the number of newspapers it sold increased from 240,000 to 280,000. i) Over this price range what
Processors of aseptically packaged juice-based beverages must adequately heat their product before packaging it in order to be sure that they have “killed” the microorganisms which
1. Definition: AGE-SPECIFIC DEATH RATE is the total number of deaths to residents of a specified age or age group in a specified geographic area (country, state, county, etc.)
Define the generality of economic theory in the modern economics. Generality of Economic Theory An economic theory is based onto assumptions imposed onto economic environmen
discuss the methods used by the malaysian government to slow down import growth.
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd