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!
Jack has a utility function U(x1, x2) = x1 * x2 power of 2
The price of x1 is 3$ and the price of x2 is $1 and Jack has an income of $90.
A) Define marginal rate of substitution (MRS). Derive the expression for his marginal rate of substitution.
B) How much of each goods will he demand?
Let's now consider the case where government collects an income tax (is just tax on income, and does not depend consumed quantity). Government imposes 10% incometax. (In other words, Jacks income decreases in the amount of income tax).
C) How much of each good will he demand in this case? (The price of x1 is 3$ but his income has decreased)
D) Calculate utilities obtained by bundles without tax and with income tax. Draw Jack's best bundles in a graph. (Budget curves, best bundles and maximum utilities for both situations in one graph). Label X-axis for good 1 and Y-axis for good 2.
What is the effect of the age of the house on its price and calculate the goodness of fit of the equation and What is the interpretation of the coefficient on CA?
Construct a table to report the regressions above, which includes the estimates, the standard errors, and adjusted R-square and find the estimated coefficient of ln(Y earsSchool) in Regression B. What is the interpretation of it?
Use the following equations for demand and supply to solve for market equilibrium price and quantity: Demand: Qd = 100 - 4P Supply: Qs = 10 + 6P
An agent for a residential real estate company has the business objective of developing more accurate estimates of the monthly rental cost for apartments. Toward that goal, the agent would like to use the size of an apartment, as defined by square..
Determine the economic advantages or disadvantages, for the United States speaker company Bose, to start a distribution center in the Czech Republic?
The demand for life insurance, Executive Insurers, Corporation is planning the factors that affect the amount of life insurance held by executives. The following information on the amount of insurance and annual incomes of a random sample of twelve e..
To ensure that correct size of heart valve is available for heart surgery, Heart Plus, maker of valves employs salespeople to place and maintain inventories at hospitals in its market.
Kyle is an English PhD student; there is some chance he will get a prestigious university job that will pay him $80,000/year (probability p). If he does not get this job, he will have to take a job at Starbuck's, paying $25,000/year (probability (..
Suppose you have been employed as an economic analyst, your job is to use the Regression Model to estimate potential sales of your employer's product.
A student is taking two courses, history & math. The probability the student will pass in the history course is .60 and math is .70. The probability of passing both is .50.
This question refers to the estimated regressions in table 1 computed using data for 1988 from the United States Current Population opinion poll.
What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).
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