Economy produces only two goods

Assignment Help Business Economics
Reference no: EM131163258

An island economy produces only two goods, coconuts and pineapples. There are four people (Adam, Bella, Carla and Daniel) living on the island with following preference.

'Adam' has a stronger preference for pineapples but likes coconut too.

'Bella' hates pineapples but loves coconuts

'Carla' hates pineapple and hates coconuts

'Daniel' does not care one way or the other about about pineapples (assigns no value to them) but he loves coconut?

Please illustrate (draw) the preferences of Adam, Bella, Carla and Daniel.

Reference no: EM131163258

Questions Cloud

When the framers were designing the federal government : When the Framers were designing the federal government, they believed that the House of Representatives would be “the people’s” branch of government. Nowadays, however, many critics say that the House would be better described as “the insiders’” bran..
Easy for a teenager to use and understand : Click on links to review the descriptions of employees' rights. Do you think this website would be easy for a teenager to use and understand
Draw a use case model of the buyer purchasing a vehicle : Briefly explain what are objects, attributes, and methods of the O-O model. Draw an object model(s) and list a minimum of five attributes and five methods for the class and subclass for the XYZ Car Manufacturer (cars, minivans, trucks, SUVs, and hybr..
Find out the equivalent resistance between x and y : For a given circuit in fig. , find out the equivalent resistance between X and Y.
Economy produces only two goods : An island economy produces only two goods, coconuts and pineapples. 'Adam' has a stronger preference for pineapples but likes coconut too. 'Bella' hates pineapples but loves coconuts. 'Carla' hates pineapple and hates coconuts.
Problem regarding the accumulated profits : The fairest way to handle profits in any partnership arrangement is to divide things evenly. If there are two owners in the business, each gets 50%. If there are three owners (even if one is a limited partner), each gets 33.333% of any accumulated..
Find the bending moment along the portion ab : Find the bending moment along the portion AB of the rectangular frame shown in Fig. 4.49. One corner A is pinned; the other corner B is supported by rollers. Assume linear elastic behavior.
Define each component of an information system : Define each component of an information system. Define how you can use the five-component model to guide your learning and thinking about information systems.
What is the crossover rate and what is its significance : What is the crossover rate, and what is its significance? If each project's cost of capital were 10%, which project, if either, should be selected? If the cost of capital were 17%, what would be the proper choice?

Reviews

Write a Review

Business Economics Questions & Answers

  Illustrate what happen if her actual disposable income

Illustrate what happen if her actual disposable income is $16,000, her level of consumption or saving will be.

  Calculate the value of disposable income

Suppose that in a closed economy GDP = $12,000, Consumption = $8,000, and Government Purchases = $3,000, and Net Taxes = $2,000. 25.1. Refer to the scenario above. Calculate the value of disposable income. $ 10,000 Please enter a whole number, with n..

  Hospital cost

A price index for nonresidential construction was 14 in 1949, 92 in 1987, and 114.5 in 2000. According to these numbers, what did the hospital cost approximately.

  What are some of the monetary policies

What are some of the monetary policies put in place during the decade of the 1980s? Consider the discount rate set by the Fed, the rates on reserves, and open market operations. What were the actions and impacts of these policies on businesses and in..

  Consider monopolist in market with linear inverse demand

Consider a monopolist in a market with linear inverse demand p(q) = 4 - q/2. The monopolist's cost function is c(q) = 2q. Write down the monopolist's profit function. Compute the profit-maximizing quantity and the corresponding price.

  A price index measures

A price index measures:

  Calculate the unemployment rate and labor participation rate

If a nation is selling less goods and services to foreigners than it is buying from them, then on net it must be buying more assets abroad, then the value of domestic assets purchased by foreigners. By itself, the purchase of a U.S. bond by a foreign..

  Large domestic market

Entering international markets has become a priority for many companies even in the US, which has a large domestic market? Is having a strategic alliance with foreign companies a better alternative to simply appointing distributors and dealers abroad..

  Benefits of international trade

Which of the following are benefits of international trade? Which ones are correct?

  According to the description of business fixed investment

According to the description of business fixed investment in this chapter, how would you expect a firm’s investment decisions to be affected by a sudden increase in the demand for its product? What factors would determine the speed of its reaction?

  Life-cycle hypothesis

Dave and Christy both follow the life-cycle hypothesis: they smooth consumption as much as possible. They each live for five periods, the last two of which are retirement. Here are their incomes earned during each period: Compute their wealth (that i..

  Official money lose its meaning in germany

Illustrate why did official money lose its meaning in Germany during the 1920s. What did the German government do or not do.

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd