Books perfect substitutes

Assignment Help Macroeconomics
Reference no: EM131095132

John's MRS for reading books with watching movies is three movies per book regardless of the amounts consumed. Would he rather read two books and watch no movies, or read no books and watch two movies? What is the formula for his family of indifference curves? What do these curves look like? In this example, are movies and books perfect substitutes, perfect complements, or neither?

Reference no: EM131095132

Questions Cloud

Who are the major stakeholders in the us healthcare industry : Who are the major stakeholders in the US healthcare industry? How would you conduct a stakeholder analysis to encourage collaboration and successful outcomes for the program?
Form of cash payments to recipients : A welfare system in which benefits take the form of cash payments to recipients is preferable to one based on the use of price subsidies on merit goods. Discuss this statement using consumer theory to illustrate your arguments.
Advance corporate finance course : 1.Propose two (2) applications of knowledge that you have learned in ADVANCE CORPORATE FINANCE COURSE that you could apply to your current career as a retail store manager.
Provide brief background information about the event : Select an event that you are familiar with that has been held within the last 5 years (e.g. a sports event, business event, cultural festival or any other event). Provide brief background information about the event by describing it in terms of it..
Books perfect substitutes : What is the formula for his family of indifference curves? What do these curves look like? In this example, are movies and books perfect substitutes, perfect complements, or neither?
Write the response of the given discussions : Please also respond to the following classmates. initial posts and bring together pieces of the discussion and take those ideas further. These responses should be at least 150 words.
Given downward sloping demand curve : Given a downward sloping demand curve, an increase in price is shown graphically as:
Responds to current economic conditions : Based on these indicators, describe the state of the U.S. economy in terms of the business cycle. Propose a monetary policy (contractionary or expansionary) that responds to current economic conditions. Be specific about which tool of monetary poli..
The fundamental forces of market self regulation : The fundamental forces of market self regulation are:

Reviews

Write a Review

Macroeconomics Questions & Answers

  Calculate the price elasticity of demand for paint

Calculate the price elasticity of demand for paint and Illustrate the calculations.

  Assume that you are in the 25 tax bracket.

What is the yield on a $1,000,000 municipal bond with a coupon rate of 8%, paying interest annually, versus the yield of a $1,000,000 corporate bond with a coupon rate of 10% paying interest annually? Assume that you are in the 25% tax bracket.

  Processes of transportation economics

Explain how the processes of transportation economics play a major role in transportation decisions of the organization. Describe how the supply chain of this company contributions to customer service levels.

  Explain the most important economic political

Explain the most important economic, political or social issue facing the United States.

  Problem regarding the data integration

Identify one e-Commerce system that offers data integration via Extensible Markup Language (XML) or JavaScript Object Notation (JSON).Do not repeat an example that has been posted by another student.

  Condition of limited resources

What is the term for a condition of limited resources, where society doesn't have sufficient resources to produce enough wants?

  Elucidate how the market for corn would be affected

Elucidate how the market for corn would be affected if ethanol, a corn derivative was used to fuel cars in the United States.

  The company provides the broker with an infrastructure

the company provides the broker with an infrastructure, such as clerical support, phone services, and office space, and especially for new brokers, a base wage.

  How much for the tax the consumer pays

Given the price of gasoline to be three dollars a gallon. Now show graphically what happens if we put a one dollar tax on gasoline. Please tell me how much for the tax the consumer pays and how much of the tax the seller pays.

  Analysis of california budget

You are a budget analyst in a California State legislative budget committee and have been asked to prepare a policy brief on the budget issue for the state.

  What is the necessary level of high-powered money

Suppose further that people want to hold 8 percent of their deposits in the form of cash. Then, if the Fed wants the money supply to be $6,228 billion, what is the necessary level of high-powered money?

  Problem regarding the maple street

There are 17 different vehicle models available at the dealership. Oddly, each family living on Maple Street bought one of these vehicles. There are just enough families on Maple Street so you can be absolutely sure that 5 families all have the sa..

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