Reference no: EM131400856
David consumes two things: gasoline (x) and bread (y), david's utility function is U(X,Y)=10X^0.25Y^0.75
A. derive david's demand curve for gasoline
B. if the price of gasoline rises, how much does david reduce his consumption of gasoline? (derive dX/dpx)
Gourdon always puts half a sliced banana, X, in his bowl of cereal, Y - the two goods are perfect complements. what is his utility function? derive his demand curve for bananas graphically and numerically.
Ryan's utility depends on two goods: U(X,Y)=X^0.5+Y0.5
a. derive ryan's demand curve for x
b. what is his income elasticity for x
c. derive his engel curve for x
|
Outline the differences between adam smith
: 1. If a 20 increase in the price of a commodity caused a 30% decline in its purchase, acalculate the corresponding demand elasticity for the commodity Is demand elastic? 2. Outline the differences between Adam Smith and Mercantilists with respect t..
|
|
Discuss the history of the internet
: Discuss the history of the Internet and the impact it has had on professional development. What social, ethical, and legal issues emerged due to the Internet as it evolved over the years?
|
|
Purchase by households
: Suppose that one day the personal printer is introduced into S land from another city and made readily available for purchase by households. Explain the effects of the personal printer on (a) the market area of Winkos and (b) the population of the..
|
|
Describe the circumstances surrounding the country position
: According to the article "What Does GDP Really Tell Us About Economic Growth," located in Topic Materials, Khan discusses the pitfalls of GDP. Describe how these pitfalls have affected the overall economic status of a country. Conduct research to ..
|
|
David consumes two things
: David consumes two things: gasoline (x) and bread (y), david's utility function is U(X,Y)=10X^0.25Y^0.75 A. derive david's demand curve for gasoline
|
|
Find the variance of x
: Consider a pair of random variables X, Y with constant joint density on the triangle with vertices at (0, 0), (3, 0), and (0, 3).
|
|
Growth rate of the potential gdp
: Describe three different policies that could be used to increase the growth rate of the potential GDP. Identify whether each policy is aimed at technology, capital formation, or labor supply.
|
|
Evaluate user dialog strategies use by menu-driven interface
: Evaluate the user dialog strategies used by a menu-driven interface. Determine why menu-driven interfaces continue to be popular in the modern computing age.
|
|
Maximum amount of steel or aluminum
: GIVEN: The maximum amount of steel or aluminum that Canada and France can produce if they fully use all the factors of production at their disposal with the best technology available to them is shown here: Canada had 500 in steel(tons), France has..
|