User Account

All Pages

Consumer consumes of both goods

Assignment Help Business Economics
Reference no: EM131692204

A consumer's utility function is U(x; y) = (x + 2)(y + 1). The prices are px = $8; py = $2. The consumer consumes of both goods. If his consumptions of good x is 14 units, what is his consumption of good y? Why?

Reference no: EM131692204

Questions Cloud

Aggregate welfare and surplus : The Southern Nevada Water Authority (SNWA) supplies water to Las Vegas. Its cost function for water supply is given by C = 10Q + 8Q2.
Write a two to three page paper discussing a violent movie : Do you feel the violence makes the game/movie more or less effective
Identify any internal control principles : Internal Control Bart Simons has worked for Dr Homer Spring for many years. Identify any internal control principles that may be violated in Dr Spring clinic
Large-scale upgrade of project company e-business systems : Imagine that you are the project manager in charge of a large-scale upgrade of your project company's e-business systems.
Consumer consumes of both goods : The consumer consumes of both goods. If his consumptions of good x is 14 units, what is his consumption of good y? Why?
Evaluate the norms of the organizations learning culture : Evaluate the norms of the organization's learning culture to determine the source(s) that currently prevent productive learning by applying two of the following
Compute the weighted-average number of shares : Compute the weighted-average number of shares outstanding if the 27,000 shares were issued for cash
Secure-protect the data and programs of the company : Sammy is the IT Security Officer of the XYZ Solution. His task is to secure/protect the data and programs of the company.
Examine the cumulative distribution function : The percentage of people (to the nearest 10) responding to an advertisement is a random variable with the following probability distribution.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd