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!
Consider two consumers, John and Maria, each with an quantity of two goods: corn and sugar. a. John has 30 gallons of gasoline (G) and 20 bags of sugar (S); for that basket of goods, his MRS(GS) is 1G/5S. Maria has 30 gallons of gasoline (G) and 50 bags of sugar (S); for that basket, her MRS(GS) is 1G/1S. Note then that the economy's total G = 60 and total S = 70. Are there gains to be had for both John and Maria from trading? Who would trade what to realize gains? Explain and illustrate using an Edgeworth box diagram. b. Suppose now that John has 40 G and 0 S and that his MRS(GS) is 1G/1S. Maria has 20 G and 70 S and her MRS(GS) is 3G/1S. Are there gains to be had for both John and Maria from trading? Explain and illustrate using an Edgeworth box.
Suppose Ann’s utility function is defined as: u(c) = ln(c) . For her birthday, Ann’s father offers her the choice of either a lottery ticket that is worth $1 with probability .99 and worth $100,000 with probability .01 or $500 cash. What is the expec..
Suppose re are 300 of young in some period t. n, how many good are paid to government for tax in this period. In period t, how many good can each old person get and consume.
This question uses the general monetary model, where L is no longer assumed constant.
What are the production costs of your economics class? What are the fixed costs? The variable costs? What’s the marginal cost of enrolling more students?
Assume the market for cough syrup is in equilibrium. Now, suppose the government imposes a price ceiling that is above the original equilibrium price. Illustrate what are the economic effects of the price ceiling?
Bribes: Two players find themselves in a legal battle over a patent. The patent is worth 20 to each player, so the winner would receive 20 and the loser 0. Given the norms of the country, it is common to bribe the judge hearing a case.
Suppose a monopolist manufacturer sells his products through a monopolist retailer. The marginal cost of production is c = 5. Assume that retail demand is Q(p,s) = s(10-p)100, where s is retailer's level of effort to sell the product. The cost..
it behooves government to impose below market price ceilings on consumer goods, thereby increasing consumers surplus and making everyone better off." What would be the effect of this policy?
The quality and amount of education the typical person receives caries substantially across countries. Assume that education (E) affects only the level of the efficiency of labour, and that countries are otherwise identical (in terms of saving rate, ..
q.two alternative designs are under consideration for a tapered fastening pin. the fastening pins are sold for 0.70
A new car is purchased for $12,000 with a 10% down, 9% loan. The loan is for 4 years. After making 30 payments, the owner wants to pay off the loan's remaining balance. How much is owed?
Define and identify the market for each of the following products in terms of (1) market scope (local, regional, national, international( state your reasons why you classify them as local, regional, national or global in scope),
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