Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question:
a) Johnny consumes peanuts (x1) and a composite good (x2). His utility function is U = x1x2. His marginal utilities are MU1 = x2and MU2 = x1. Johnny's budget is $20 and the price of the composite good is $1. Derive Johnny's demand function for peanuts.
b) Ambrose consumes peanuts (x1) and a composite good (x2).He has a utility functionU = 4 x1 + x2. This means his MU1 = 2/√x1and his MU2 = 1 . The price of the composite good is p2 = 1. His budget is $20 per month. Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?
Additional Information:
The question is belongs to economics and it is derive Johnny and Ambrose's demand function for peanuts and how does Ambrose's demand function for peanuts compare with Johnny's demand curve for peanuts?
Using the following equations Qs = 13,000P and Qd = 48,000-6,000P. Plot supply and demand curves (require a graph). Determine the equilibrium price?
International trade is most likely to occur whenever a. one of the trading nations is self-sufficient b. all of the trading nations are self-sufficient c. one of the trading nations gains from trade d. each of the trading nations gains from trade
The problem related to Economics and the problem is analyze the impact of climate change on the overall economy in New Zealand. Due to the uncontrolled industrialization around the world and increased emissions are adding to the global climate cha..
a normal demand curve is downwards identify four abnormal exceptional demand
imagine that in the market for loanable funds the equilibrium interest rate is equal to 10 and the quantity of loanable
you were appointed to manage the production facility of your new factory in saint john. a think tank estimated the
differentiate between positive and negative feedback loops. give examples of each with regard to natural resource
greener grass company ggc competes with its main rival better lawns and gardens blg in the supply and installation of
Suppose that the Fed raises the discount rate, causing a decrease in discount loans to the banking system. Assume that the decrease equals $950 in discount loans. Show how this change in discount loans affects the liabilities and assets of the Fed an..
Suppose that after graduation you take a job with an employer that oers to pay full tuition for employees wishing to return to school to get an MBA degree during non-work hours. You are not required to continue working for the rm after getting yo..
1.using the graph show what happens to the aggregate expenditures curve ae1 when autonomous expenditures fall to
Describe the factors that may cause economies and diseconomies of scale. Give an example of each. Describe the economic concept of the law of diminishing marginal returns. Please give an example. Why is this important?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd