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1. Suppose that yi receives $ 60 per day as interest on inheritance and her wage is $25 per hour, and she can work a maximum of 16 hours per day at her job. draw her daily budget constraint.
2. Suppose that a new bridge opens in the east bay, and min's daily commute is reduced by one hour. if Min can chose how many hours she works per week, and if both leisure and income are normal goods, then what is the effect of the shorter commute on Min's work time?
3. Suppose that Mari was injured in an accident and after the lawsuit she gets paid $3,000 per month. if her utility function is U(C,L)=C*L, and if she gets paid the settlement whether or not she works, then what is her monthly reservations wage? assume that she can take at most 720 hours of leisure per month.
How should policy makers determine the amount of money that should be allocated for research curing heart disease? they should base their decision on the value of the total be
In national income accounting, grain fed to a hog at a commercial hog farm is considered a(n) a. final good b. intermediate good c. consumer good d. capital consumption allowa
Show how the over?shing problem can result in a decline in welfare for Norway. Also show how it is possible that the over?shing problem could result in an increase in welfar
Explain the differecnce between fixed-procuction technology and variable-production technology. Should the government set a goal of reducing the marginal social cost of poll
John Smith, C.E.O. of A.B.Co. is attempting to estimate the quantity of his product that will be demanded during April. At the current price of $2.00, A.B. Co. is selling 10
In response to pressure from environmentalists the government now tightens the maximum damage standard to 4 units. How much fertilizer will farmers use now? What will their
Make an analysis of the United State Fiscal Policy by addressing the following, differentiate the state of the economy. Determine the focus of the current fiscal policy?
Discuss substantive ways in which armed conflict can contribute to or distract a developing economy and infrastructure. Analyze specific reasons why developed nations do not
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