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?
WHAT IS PPC
Discount Rate The term discount rate relates to business valuations. It is the rate applied to a future torrent of making an income or cash flow to measure its represen
TREND AND STRUCTURE OF INCOME: Each sector of the economy employs natural, human and material resources and contributes to the aggregate flow of goods and services during a gi
TC = 1q^3 - 40q^2 + 840q + 1800 Price= $750
discuss the law of variable proportion with the help of isoquants
Can marginal cost be constant? If so, does this mean that marginal cost are equal to average variable cost?
Selective in Exports: There are many industries where India has an advantage because of relatively lower costs of all forms of manpower whether it is professional or factory l
Why elasticity is important for economic analysis? Elasticity is a significant concept in understanding the incidence of indirect taxation, marginal concepts as they relate to
what is the definition of economic system?
if coast of good A fall by Rs.1 & coast of good B increases by 1 Rs. what will be the effect on budget line
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