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!
1. A student has a budget of $200 for their meals outside of the home per week. One possibility is purchasing a meal at a restaurant, which we will call x1, and which costs $20, and a second possibility is purchasing a meal at the school cafeteria, x2, which costs $10.
a) Draw a graph depicting the budget set for this choice. Label the axes, the two intercepts of the budget line, and the slope of the budget line.
b) The student’s utility is represented by the equation:
U(x1,x2)=5x1x2
How many meals of each type will she eat?
Give expressions for the marginal utility of x1 and x2 for each of the following utility functions.
a) U(x1,x2)=x1^5x2^5
b) U(x1,x2)=ln(x1)+5x2
c) U(x1,x2)=2x1x^32
You plan to live in your house for 20 years, and your 20 year mortgage (principle and interest only) is $2,100/month. If you expect inflation to average 3% annually, what is your constant dollar mortgage payment on the day of your last payment?
The money supply in $1 trillion, the price level equals 2, and real GDP is $5 trillion in base-year dollars. What is the income velocity of money?
A clinic has incremental costs per case of $10 and overhead costs of $100,000. It faces a price elasticity of demand of -2. What is the clinic’s profit-maximizing price? (Round to the nearest whole dollar)
Mirk Labs is a pharmaceutical company that currently enjoys a patent monopoly in Europe, Canada, and the United States on Zatab, an allergy medication. The global demand for Zatab is: Qd = 15.0 0.2P where Qd is annual quantity demanded (in millions o..
Economic agents make decisions in particular models. These models do not need to be related to financial contexts, and economics can be used to describe how agents will act in any other field in which humans act. As an example, how would economic pri..
Is there anything in what we have studied, that can point us towards an equitable solution to this problem while still protecting the environment we all share? What is that solution?
Do you think the benefits of government regulation exceed the costs? In what areas, if any, do you think the costs exceed the benefits? Cite an example of a company's efforts to circumvent government regulations. Is the use of loopholes ethical?
to be successful leaders in the global business world of the 21st century managers must consider economic trends
Elucidate the balance sheet balances if these are the only assets and liabilities. Supposing that the people hold no currency, what happens to each of these values.
1). List three businesses that can exist today, because of the World Wide Web that could not have existed before the advent of this technological communication system. 2). How has the World Wide Web supported the establishment and functioning of th..
Chris chooses between two goods, X and Y (see figure below). At first, the price of X is low and the price of Y is high (budget line B1). Chris tells you his best affordable combination of X and Y is at point A. Then the price of X rises, while the p..
Consider a Stackelberg competition with one leader and one follower. All products produced by the firms are homogeneous. Consider a Stackelberg competition with one leader and one follower. Determine the equilibrium price, and the quantity produced b..
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