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1. Consider the problem of maximizing u(c, t) subject to Pc + wl =wT + Y, where c is consumption leisure time T is the total time endowment, and Y is non wage income. Prove that if leisure is en inferior good then the labour supply function is upward-sloping.
2 Consider the problem of maximizing u a (x1, x2)3 subject to p1x1 + p2x2 = y. Derive the Marshallian demand functions and the indirect utility function, and confirm that Roy's identity holds.
At present current business how do changes in macro environment effect individual companies and industries through microeconomic factors of demand, production, cost, and profitability?
What's the difference between the law of diminishing marginal returns and the law of diminishing marginal rate of technical substitution?
Boston based gas station owner set highest gasoline values in the country. During that summer, he charged $1.69 per gallon for unleaded gas during the daytime and $2.59 each gallon at night
If our example patron was a teenager, it's likely the power need that he expressed was a normal teenage reaction to a parent interfering in his life. In additional library visits by his choice, he might reveal himself as achievement motivated. If tha..
Fluctuating and rising gasoline prices. Make your analysis on this topic and relate it to the US economy. Determine the three or four segments of our economy that are affected through fluctuating prices for gasoline.
Describe some of the microeconomic and macroeconomic factors a firm must consider in its own sales and profit forecasting.
Shoes For Less (SFL) hires you to estimate the demand for their shoes, and you estimate this to be: Describe the difference in the results between your results and those of original consultant.
Describe why the following is an example of monopolistic competition: There are a number of fast-food restaurants in town, and they compete fiercely.
Prepare a brief paper defining direct and indirect channels of distribution. Discuss what are the key advantages and disadvantages of each channel for your company?
There are literally several elected officials across the U.S. at the local, state, and national levels. The 2-major political parties remain as important to election and reelection of public officials today as ever before.
A country should engage in international trade when the country can give up fewer goods for imported item than is implied by the item's domestic opportunity cost of production.
Determine how the following situations will affect the demand curve for ipods.
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