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1. (Utility-Maximizing Conditions) Suppose that marginal util- ity of Good X = 100, the price of X is $10 per unit, and the price of Y is $5 per unit. Assuming that the consumer is in equilibrium and is consuming both X and Y, what must the marginal utility of Y be?
2. (Utility-Maximizing Conditions) Suppose that the price of X is twice the price of Y. You are a utility maximizer who allocates your budget between the two goods.What must be true about the equilibrium relationship between the marginal utility levels of the last unit consumed of each good? What must be true about the equilibrium relationship between the marginal utility levels of the last dollar spent on each good?
Wanda Littlemore's utility function is U(x, y) = x + 46y - 2y^2. Her income is $135. If the price of x is $1 and the price of y is $18, how many units of good x will Wanda demand? Please show me how the answer is arrived at?
Based on the data provided, create a report in Microsoft Word discussing the trade balance between China and the U.S. for the most recent five year period.
Thew has a utility function U= (xy)1/2 (where Y represents apples and X represents hot dogs), income of $20, and is deciding how to allocate that income between apples and hot dogs. Hot dogs cost $1.20 each while apples cost $1.00 each.i) Matthews u..
Presume that people expect inflation to equal three percent, but in fact, prices rise by one percent. union worker in the second year of a labor contract. An individual who purchased inflation-indexed Treasury bonds
If the price of coffee came down to overshoot former equilibrium pricing but another type of coffee begins to do extremely well what has happened to the price elasticity and equilibrium
Write an assembly language subroutine
What was Morita drawing and what did he know about costing that the chain store representative was overlooking? Be sure to describe or chart the shape of Morita's costing sketch in your answer.
market researchers at chrysler estimated the demand for their new chrysler crossfire sports cars as followsqc 1050000
Now suppose current and future consumption are perfect complements you can only enjoy current consumption if you consume it with two units of future consumption (U = min{2C1, C2}). What is your optimal consumption bundle?
How to prepare a Time-Series Model
Six months after you take over the lead IT management role at Magnum
Price discrimination is selling a product at different prices when the underlying cost is the same. Describe the conditions necessary to price discriminate.
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