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A consumer's utility is given by U(X,Y)=X^0.25*Y^0.75. (To be clear, ^ denotes exponentiation, so the utility function is X to the 0.25 power multiplied by Y to the 0.75 power.) Given this utility function, MUx=0.25X^(-0.75)*Y^0.75, and MUy=0.75X^0.25*Y^(-0.25). (You might recognize this is a Cobb-Douglas utility function as discussed in our Lecture 3 handout with A=1, alpha=0.25 and beta=0.75.) The consumer's income is $200, Px=$5 and Py=$2. What is the number of units of good X in the consumer's utility-maximizing bundle of goods?
What are your monthly payments during years 5, 6, and 7? b. How much interest is in the sixtieth month's payment? How much principal?
When Bill Clinton took office in January 1993, he faced two major economic problems: a large federal budget deficit and high unemployment resulting from a very slow recovery from the recession of 1990 to 1991. Some said at the time that without the F..
Pick any public company and discuss which 2 or 3 macroeconomic indicators which would most profoundly affect that business and why.
Elucidate the disadvantage of the simultaneous lending strategy. Be mindful of the group lending scheme which Grameen Bank adopts.
Elucidate why from an economic point of view towing a car illegally parked rather than just ticketing it provides a better incentive.
Demand for Insurance Consider the utility function u(x) = log x. Find the optimal insurance coverage, C ∗ , when insurance is actuarially fair (i.e. q = p). Find the optimal insurance coverage when q > p. Find Dirk’s expected utility from this prospe..
If a bank has $100 million in deposits and $16 million in reserves with a reserve requirement of 0.15,
Perform an annual equivalence analysis for the two options, and state which is the better option and why. Calculate the present worth of the incremental system (1 - 2): and state which option is better and why.
the manufacturer of perfume enters into agreement with several distributor about the price at which the distributors can resell the perfume. The manufacturers who do not agree to the pricing suggestion are not able to sell the perfume.what is The..
The price of good A is Eur 20,the quantity demanded is 500 units at yhis price,and price elasticity of demand is Ep=1,8,then a reduction in price of the good by eur 5 would increase the total revenue of seller by
What is the amount of five equal annual deposits that can provide five annual withdrawals, where a first withdrawal of $1500 is made at the end of year six and subsequent withdrawals increase at $100 over the previous year's, in the interest rate of ..
Using what you have learned about market-based incentives, suggest a policy initiative that would discourage land disposal in the United States.
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