Normalized sushi-units

Assignment Help Business Economics
Reference no: EM13998524

Parikshit’s utility function is given by m+s1/2, where s denotes sushi (with price p in “normalized sushi-units”) and m denotes part of his income (in dollars) he does not spend on sushi. Find his demand function for sushi.

Reference no: EM13998524

Questions Cloud

Determine the optimal monthly sales volume for this product : A large wood products company is negotiating a contract to sell plywood overseas. The fixed cost that can be allocated to the production of the plywood is $800,000 per month. The variable cost per thousand board feet is $155.50. For this situation, d..
What is the effect of the flooding in the lettuce market : Consider the following scenario: Lettuce and spinach are substitutes. Lettuce and tomatoes are complements. Lettuce is a normal good. During the winter, about 20% of the lettuce crop was destroyed by flooding. What is the effect of the flooding in th..
What is the equal payment series : What is the equal payment series for 10 years that is equivalent to a payment series starting with $30,000 at the end of the first year and decreasing by $3,000 each year over 10 years? interest is 8% compounded annually.
How many barrels will be extracted in the first year : Suppose you have three producers of oil A, B, and C, with extractions costs of $8, $10, and $12 per barrel of oil. Assume there are no user costs. Assume that each well can produce 100 barrels of oil per day. What will be the total marginal cost in t..
Normalized sushi-units : Parikshit’s utility function is given by m+s1/2, where s denotes sushi (with price p in “normalized sushi-units”) and m denotes part of his income (in dollars) he does not spend on sushi. Find his demand function for sushi.
What is the equilibrium price and quantity sold of product : The demand for a product is Qd=100-4P-3Px and supply is Qs=10+2P, where Q is the quantity of the product, in thousands of units, P is the price of the product, and Px is the price of another good. When Px = $20, what is the equilibrium price and quan..
Give a real world example for such preferences and for goods : Suppose that Colin’s preferences for goods X and Y can be represented by the utility function U(x,y)=min{x,y}, where x (respectively, y) is the amount of X (respectively, Y) that he consumes. Give a real world example for such preferences and for goo..
Advanced analysis-consumption schedule : (Advanced Analysis) Assume that the consumption schedule for a private open economy is such that consumption is as follows: C = 80 + 0.9 Y Assume further that planned investment Ig and net exports Xn are independent of the level of real GDP and const..
Economist using the economic decision rule : Suppose you are earning $12 an hour at the local grocery store. At that wage you have decided to work 20 hours a week. If your wage were to increase to $19 an hour, thinking like an economist using the economic decision rule, you would most likely ch..

Reviews

Write a Review

 

Business Economics Questions & Answers

  Explain the connection between tax burdens and elasticities

Construct a numerical example to show that the exclusion of municipal bond interest from income taxation is equivalent to a government subsidy of state and local capital spending. Assume you believe that income is a good proxy for ability to pay. Wha..

  General equilibrium is a cornerstone of economic theory

The so-called theory of general equilibrium (including the many variants) is a cornerstone of economic theory, occupying economists' minds since (at least) the 1800s

  Expedited payments

Recently, a bank was trying to decide what fee to charge for "expedited payments"—payments that the bank would transmit at a faster speed to enable customers to avoid late fees on cable TV bills, electric bills, and the like.

  Preferences are summarized by the utility function

A consumer’s preferences are summarized by the utility function U = X2Y (then MUX = 2XY and MUY = X2 ). Assume that M = 120, PX = 4, PY = 2. a. What is this consumer optimal choice?

  What are possible opportunity costs of opening arctic lands

What are possible opportunity costs of opening Arctic lands to private extraction of as-yet unavailable resource endowments?

  Qsuppose that the world consists of only two countries a

q.suppose that the world consists of only two countries a and b of relatively equal sizes. the world interest rate in

  E-business is a necessary function

I think most of us would agree that e-business is a necessary function in today's business environment. What are your thoughts on a company having a totally separate e-business function?

  Explain is a high degree of market concentration a boon

Explain is a high degree of market concentration a boon or threat to consumers. What is the strongest argument on either side.

  Interpreted from one of three major theoretical frameworks

Social life can be interpreted from one of three major theoretical frameworks. Describe the major points of each framework. List at least one sociologist who has been identified with each framework.

  Using indifference curve analysis

Mary plans to attend college and to pay her own way. Mary's parents of course, want to help her out financially and are trying to decide how best to do it. They want to do whichever will please Mary the most. Using indifference curve analysis, help M..

  What is the impact of a government shutdown on the budget

In this discussion, you will compare and contrast monetary and fiscal policies. Consider two recent national crisis points: 9/11 and the banking failures of 2008. Was fiscal or monetary policy more immediately responsive to each crisis? Why? Was fisc..

  Sustainable development is always considered

Steps that a government take to ensure that sustainable development is always considered in assessing which major economic projects or investment proposals to accept

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