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Suppose a family's annual disposable income is $58,000 of which it saves $8000. if their income rises to $64,000 and they paln to ave a total of $9,500 at this income level, calculate the MPS and MPC for this family?
Stephen Zehnder, an enterprising engineer, wants to get into business. He is looking at the following two alternatives. He has compiled the cost data for both alternatives as shown in table below. If Stephen wants to have at least a rate of return..
Abby consumes only apples. In year 1, red apples cost $1 each, green apples cost $2 each, and Abby buys 5 red apples and 2 green apples. In year 2, red apples cost $2, green apples cost $1, and Abby buys 1 red apple and 7 green apples. Compute a ..
Ford is budgeting $300,000 per year to pay for labor over the next 5 years. If the company expects the cost of labor to increase by $10,000 each year, and the annual interest rate is 10%, what is the expected cost of labor in the first year
Ahead of you is a wonderful weekend. You bought a ticket to see a professional football game. The ticket cost $50 a piece, plus you estimate a cost of $25 each for gas to the game and parking. Since the game is in the middle of the afternoon, you ..
Frisbees are produced according to the production function q = 2K+L where q =output of frisbees per hour, K =capital input per hour, L =labor input per hour. a) If K = 10, how much L is needed to produce 100 frisbees per hour
the number of acres burned by forest fires and range fires each year is normally distributed with a mean of 5,300 acres. Last year 4,400 acres burned and it was reported that this acreage was 1.43 standard deviations below the mean.
The U.S. mint, which produced billions of coins each year, has a mean defect rate of 5.2 coins per day. Let X be the number of defective coins produced on a given day. What is the probability of exactly 5 defective coins on a given day
Imagine you are a consultant hired to give advice to a fast food restaurant which is faced with employees asking for a 25% increase in pay. In order to give good advice, you need more information. Create three to four (3-4) questions that you woul..
Write the function for the indifference curve and graph it when U=10 and U = 20. b) Write the function for the budget constraint and graph it.c) What are the utility maximizing amounts of X1 and x2 given the budget constraint? d) Would your answer..
Weekly demand and cost relations for Sandpiper Products, Inc., are given by the equations P = $180 - $10Q (Demand) TC = $75,000 + $5Q + $7.5Q2 Where Q is the quantity produced and sold per week. a. Determine the profit maximizing price and output. (Q..
If the ratio of currency to transaction deposits is 2, the ratio of nontransaction deposits to transaction deposits is 5, the ratio of retail money-market funds to transactions deposits is 1, the ratio of required reserves to transactions deposits..
In each case, draw a budget line that shows her available choices, and indicate her best choice by adding indifference curves. Assume that Jane only cares about the number of peanuts, and not about the size of the bag.
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