User Account

All Pages

Equilibrium allocation of time

Assignment Help Business Management
Reference no: EM131282747

A needy family consisting of a mother and three children currently receives cash benefits that average $12 per day. The mother of this family is allowed to earn an average of $4 per day before her benefits begin to decline. After that, for each dollar earned, cash benefits decline by 67 cents. Plot the recipient's money income-leisure tradeoff (budget) line under these circumstances. Assume that she can find work at $4 per hour. How many hours will she have to work per day before her benefits are eliminated? Assuming that her indifference curves for work and leisure are convex, show her equilibrium allocation of time between work and leisure per day. Show that it is possible to have more than one most-preferred outcome.

Reference no: EM131282747

Questions Cloud

Example of societal need or ethical business practice : Provide examples of three firms that are involved in both B2C and B2B marketing.- Provide an example of a societal need or ethical business practice that a specific marketer is addressing.
Calculate the thickness of the hydrodynamic boundary layer : Engine oil at 100°C flows over and parallel to a flat surface at a velocity of 3 m/s. Calculate the thickness of the hydrodynamic boundary layer at a distance 0.3 m from the leading edge of the surface.
Trend complicate the product design process : The product life cycle for many products is getting shorter. In what ways does this trend complicate the product design process? Can you think of any advantages to shorter product life cycles for firms that have exemplary product design processes?
Develop an argument that would persuade them otherwise : They are arguing that the company could save millions of dollars if they just got rid of the marketing department. Develop an argument that would persuade them otherwise.
Equilibrium allocation of time : How many hours will she have to work per day before her benefits are eliminated? Assuming that her indifference curves for work and leisure are convex, show her equilibrium allocation of time between work and leisure per day. Show that it is possi..
What is the equation for the center temperature : What is the equation for the center temperature if the difference between center and surface temperature is 30°C when the heat generation is 3000 W/m3?
What is the equilibrium outcome in the given game : Based on this information, can GE successfully prevent Maytag from entering this market by increasing its advertising levels? What is the equilibrium outcome in this game?
Remaining income from the trust : Ken will receive a $5,000 annual payment from a family trust. This will continue until Ken in 30; he is now 20. Inflation averages 4% and Ken's real MARR is 8%. If the first payment is a year from now and a total of 10 payments are to be made, ..
Explain conditions under which this statement is justified : Hamming codes are said to be perfect single-error correcting codes. Justify the fact that Hamming codes are perfect.- Explain the conditions under which this statement is justified.

Reviews

Write a Review

Business Management Questions & Answers

  Benchmarking is the practice of copying what other

Benchmarking is the practice of copying what other businesses do best

  Illustrate what factors should considered in price settings

Illustrate what factors should be considered in price setting? Which of these factors is most important? Explain why? Explain why is adapting the price of a product important?

  Strategic management advantages and risksunderstand what

strategic management advantages and risksunderstand what strategic management is what some of the advantages and risks

  Total length of stay of discharged-died

A 577-bed general hospital had 15,846 patients discharged/died in 2005. Total deaths for the year were 497. There were 91 cases reported to the Coroner, and 361 autopsies were performed. Total patient days were 136,995 and the total length of stay..

  Explanation to communication questionexplain what are the

explanation to communication questionexplain what are the characteristics a communications technology must have in

  Complete overview of japanese business culture and

complete overview of japanese business culture and etiquettean indepth review of japanese business culture and

  Developing a project schedule

"Developing a Project Schedule." Please respond to the following:

  The businesses are being litigated for breach of contract

The businesses are being litigated for breach of contract. In a chart that doesn't exceed one half of a page compare and contrast your personal liability exposure

  Important information about comparing fmc aberdeen

Important information about Comparing FMC Aberdeen and FMC Green River - What are the differences that exist between FMC Green River and FMC Aberdeen

  Show step in an analysis

Describes, in great detail, exactly how things will be done -  explains why this course of action will solve the problem,

  Types of centralization and decentralization

Leaders of large organizations struggle to identify the best level and types of centralization and decentralization. What should companies consider when determining the degree of decentralization? Support your conclusions.

  Determine the right person for the job

For this assignment, you should create a plan to hire an employee for a position within your organization to support a recent change. In this plan, you should include the following:

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd