User Account

All Pages

Welfare program that guarantees individuals

Assignment Help Business Management
Reference no: EM131266910

Martha has a job in which she earns $30 per hour. She values Income (Y) and Leisure (I). She has 400 hours a month available to spend working or at leisure. Her utility function is U(I,y) = I.4y.6 which  implies that the MU of I is .41-.6y.6and MU of Y is .61.4y-.4.

a) How many hours a month does Martha work? What is her income?

b) The government institutes a welfare program that guarantees individuals $2000/month. The guarantee is phased out immediately with the first dollar of income earned. How many hours does Martha work? What is her income?

c) The government revises its welfare program so that the phase-out rate is 1/3. Every dollar earned working lowers the transfer from the government by 1/3 dollars. How many hours does Martha work?

Reference no: EM131266910

Questions Cloud

How and why product warranties are important marketing tools : Describe how and why product warranties are important marketing tools.- Do you think a company could successfully compete against either without offering the same guarantee?
What does tyranny of majority mean : What is oppression, and what measures can be taken to eliminate it from the workplace? Explain. What are the mechanics of oppression? What does scapegoating mean? What does tyranny of majority mean
Convertible bonds-prepare the entry to record the conversion : Aubrey Inc. issued $5,770,200 of 8%, 10-year convertible bonds on June 1, 2014, at 98 plus accrued interest. The bonds were dated April 1, 2014, with interest payable April 1 and October 1. Bond discount is amortized semiannually on a straight-line b..
How the selected individual contributed to societal change : Provide background information on the individual and their personal philosophies, Discuss how the individual was connected to the Progressive Movement and Discuss how the selected individual contributed to societal change.
Welfare program that guarantees individuals : The government institutes a welfare program that guarantees individuals $2000/month. The guarantee is phased out immediately with the first dollar of income earned. How many hours does Martha work? What is her income?
Can you re create hydrox through a name change : Can you re-create Hydrox through a name change? What kind of brand name could go head-to-head with Oreo?
How does demand for resources found on circular flow chart : How does demand for resources relate to my definition of microeconomics found on the circular flow chart? What are the two key factors that determine the strength of demand? How would you determine whether a good is in high demand or low demand?
Identify in order to create activity-based cost model : Identify the various activities that the company would identify in order to create a activity-based cost model. If the company where to allocate cost by department, what departments would be identified? How might this company utilize customer profita..
How can you package your renewed sandwich cookie : How can you package your renewed sandwich cookie to make it more attractive on the shelf than Oreo? What about package size?

Reviews

Write a Review

 

Business Management Questions & Answers

  Abusive customers cause emotions to run hightelephone

abusive customers cause emotions to run hightelephone customer-service representatives have a tough time these days.

  Important for firms or organization

Why is it important for firms or organization to move forwartd instead of staying back and waiting for other firms to experience with the new. How c an this be detrimental?

  Best forms of employee testingdetermine the types of

best forms of employee testingdetermine the types of employee testing that companies may require that are discussed

  Majority share of a companies holdings

Where institutional stakeholders have the majority share of a companies holdings, what compromises might the managemnt team of the company need to be mindful of when influenced to make decisions?

  Intermodal transportation with respect to global logistics

Explain how important is intermodal transportation with respect to global logistics? How do supply chains get more complicated when firms are doing business across borders versus domestically?

  Conducting an organizational assessment

The success of an organization depends heavily on its structure, strategies, and culture. In this assignment, you will develop an understanding of the importance of these elements in the success/failure of an enterprise.

  1with the introduction of a unit tax to be paid by

1.with the introduction of a unit tax to be paid by producers the supply curve shifts upwards. explain why when the

  A smart phone producer believes

A smart phone producer believes its main competitive advantage lies in its continuing development of innovative features. The company is facing increasing competition on price and is strongly considering outsourcing to offshore firms as a means of re..

  Create a crthcal path diagram showing the critical path

Explain the time management plan and create a crthcal path diagram showing the critical path - show your cost plan with calculation of estimated profit. Do the(competitor analysis‘by using Payback Period Method.

  Job posting sitesthere are quite literally thousands of

job posting sitesthere are quite literally thousands of sites that provide you with databases of job postings. some are

  Wal-mart location planning response to local negative

wal-mart location planning response to local negative criticismswal-mart wants to build one of their stores in a small

  Cognitive and affective responses in advertising

Consumers respond positively or negatively to an advertising stimulus. Determinants of forming a positive or negative attitude towards the advertised product include cognitive and affective processing. Consumers rely on cognitive and/or Consumers res..

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