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An individual derives utility from consuming goods X and Y according to the following estimated utility function
U = 12X2/3 Y ¼
X and Y are quantities (units) of the two goods
The individual has ksh 2400 to spend on goods X and Y whose prices per unit are ksh 6 and Ksh 12 respectively,
a) Find the individual's marginal utilities with respect to both goods
b) Determine the quantities of each commodity he/she should buy so as to maximize his utility
c) His/her maximum attainable utility level
Q. What is Cost effectiveness analysis? Cost effectiveness analysis A method which seeks to identify the least cost option for meeting a particular objective. It actives prior
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Much of the supply-side, fiscally conservative economic policies of Margaret Thatcher, Ronald Reagan, and even Mike Harris in Ontario were predicated on the belief that high income
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3. You plan to sell a sunglasses clip that you can attach to a car''s sun visor. You can purchase the goods from a wholesaler at $2 a piece and there is an overhead cost of $500 pe
2) Proctor & Gamble (P&G) and the Lever Co. decide to form a laundry detergent cartel for future sales in Europe. Lever is more efficient than P&G. a)illustrate graphically how the
What are the causes of inflation? Define inflation as a steady enhance in the general price level. Then, there are, well, two and a half basic reasons: 1) Demand-pull infla
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differential rents..
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