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!
Assume that an individual consumes two goods, X and Y. The total utility of each good is independent of the rate of consumption of the other good. The price of X and Y are $40 and $60 respectively. Use the following table of total utilities to answer the following questions. Good Total Utility of X Total Utility of Y 1 20 45 2 38 78 3 54 108 4 68 135 5 80 159 6 90 180
a. The marginal utility of the fourth unit of Y is __________.
b. The marginal utility of the fifth unit of X is ___________.
c. The marginal utility per dollar spent on the third unit of X is __________.
d. The marginal utility per dollar spent on the second unit of Y is __________.
e. If the consumer has $420 to spend, ______ unit of X and _______ units of Y maximize utility subject to the budget constraint. Explain.
f. If the consumer has $220 to spend, _______ units of X and _______ units of Y maximize utility subject to the budget constraint.
Microsoft sells three different programs in their office suite: Word, Excel and PowerPoint. Each has a marginal cost of $15. There are three types of con- sumers, writers, accountants and professor, who have the following values for the three diff..
Solve the forecast model
A typical 2,000 sq. ft. home using standard concrete forms costs $120 per square foot to construct and uses $300 per month average to heat and cool. Calculate the IRR on a home using your company's insulated concrete forms on a typical 2,000 sq. f..
The information in the table given below are the results of a random sample of current home sales in your neighborhood that your boss has asked you to use to estimate relationship in selling price of house and number of square feet in it.
A customer has provided information on the value of cars, the price of gasoline, the quantity of new cars sold in United States. Gross Domestic Product per capita is also observed.
Fancy Gadgets, Inc. has developed a new Thing-A-May-Jig at a cost of $2,000,000. Projected profits from the sale of Thing-A-May-Jigs for the next five years are: $300,000, $400,000, $500,000, $600,000, and $250,000. At the end of the fifth year, t..
Let X denote the reaction time, in seconds, to a certain stimulus and Y denote the temperature (F) at which a certain reaction starts to take place. Suppose that the two random variables X and Y have a joint density function f(x,y)= y, 0
Assume that when using the multiple regression in the formula Y = b1X1 and b2X2 + E that X1 represents wages and X2 represents transportation expenses?
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..
If the government imposes a tax of $15 a month on the market, what price would the buyer of an Internet service pay?__________ What price would the seller of the Internet service receive?____________________
Suppose it is known that 10% of people who play poker machines have a gambling problem. Suppose it is also known that 20% of the population play poker machines and 5% of the population have a gambling problem.
Despite very low growth of GDP in 2008 and 2009, and still high unemployment rate of 9.5 percent in June 2010.
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