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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
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q.1. an investor buys a property for 1 million with 40 of the purchase price attributable to the land and the balance
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Are monopolies and oligopolies (firms demonstrating power) always bad for society?
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In order to just break even, Elucidate how much will the company have to charge for every set.
Manufacturer A is starting to make Gismos at an initial production cost of $95 for the first unit and has been lowering the cost with a learning rate of 79 percent. Manufacturer B also started this year with an initial production cost of $288/unit wi..
When writing a bad-news message, it’s best to
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