Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
a consummer has a revenue of I dollars. the prices of x and y are Px and Py. the utility function of the consummer is U(x,y)= x^(1/2)y^(1/2).
a) Py =4 and I =100. find the demand curve (of Marshall) and draw it. What is the elasticity demand when Px =5
b)Py =4 and Uo is the maximal level utility when Px =5, Py =4 and I =100. find the the compensated demand curve (or of Hicks) and draw it on the same graph. for what value of Px the two curves will cut? what is the elasticity of compensated demand when Px =5?
c) Px =5 and Py =4. find the Engle curve and draw it. What is the elasticity of x in function with I when I = 100?
d) Py =4 and I =100. Suppose Px falls from 5 to 2. what is the change in the demand quantity of x? Decompose this change in substitution effects and revenue. what is the change in the consummer surplus?
e) find the derivative x and Px as function of Px, Py, I and decompose it in substitution effects and revenue effects.
Describe the effect of increase from 1998-1999. How would the increase in demand affect the price? How would the price effect depend upon the price elasticity of supply? Please describe how. (Explain the illustration instead of actually drawing it)
Choose an Oligopoly and describe the industry and explain the general pattern of change of the particular market model and hypothesize the basic short-run and long-run behaviors of the model in the industry you have chosen in a "market economy."
How does the investment banks industry fit into the perfectly competitive model - Special characteristics of purely competitive firms
Identify which of the determinants of demand or supply are affected and also indicate whether demand or supply increases or decreases.
What difference does it make, if any, if technology is moving very fast in the market so that this game proves to be one-time-only simultaneous play?
Profit maximization in perfectly competitive and monopoly markets requires setting MR = MC - in monopoly markets, firm and market demand curves always have identical slope.
Determine the price, income and cross price elasticity of demand and how would you characterize the demand for haddock?
Write an assembly language subroutine
Please refer to Citizen Gas Company PDF for case study and questions. The case study belongs to Economics. Citizen Gas Company is a medium sized company with customers from residential, commercial and industrial sectors.
Compute the marginal rate of substitution of apples for bananas using the marginal utilities. Compute the value of the MRS at (2,4) and at (1, 16).
Determine what fiscal policy measure has a more direct impact to the economy, an increase in government spending or an equal decrease in taxes if consumer confidence is lower than the previous month.
The technology of a company making high end, solid gold bracelets in Soho (NYC) is explained through the production function;
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd