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Utility maximization, graphs (9 points) Suppose Becky's utility function for churros (C) and hot dogs (H) is given by U(C, H) = min(C, 4H), and she has $20 in income.
(a) Graphically identify the utility maximizing quantities of X and Y if the prices of C and H are 2 and 2, respectively. Find the numerical values of the optimal C * and H* .
(b) Graphically identify the utility maximizing quantities of X and Y if the prices of C and H are 2.5 and 10, respectively. Find the numerical values of the optimal C * and H* .
(c) Suppose the prices of C and H are pC and pH, respectively, and income is I. Find the values of the optimal C * and H* in terms of pC, pH, and I.
Suppose a manufactrer estimates its marginal cost at $1,00 per pack, its own price elasticity at -2, and sets its price at $2,00. Average total cost per pack are expected to raise by $.60. What effect will this have on its optimal price
The sales information for the Lonestar Sports Apparel Corporation for the last 12 years as follows:
Part of the policy response to the crisis was an extension of the length of time that an unemployed worker could receive unemployment benefits. How would you predict this change would affect the proportion of those unemployed more than six months?
Then scale them by a factor of 5/3 also. Calculate the switching time and PDP for these two situations. Assume that the mobility remains the same as the oxide thickness is reduced, but be aware that in practice it may actually decrease somewhat.
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An investor seeks to create a portfolio from three types of securities: Treasury Bills (T), Corporate Paper (C), and Junk Bonds (J). The table lists the expected rates of return for the asset types and their average risk (on a 1-5 scale, where ‘5'..
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The components are connected in three subsystems, as shown in Fig. 1.19. The system is operational if there is a path that starts at point A. ends at point B. and consists of operational components. What is the probability of this happening?
if you deposit $1000 now, $3000 four years from now follows by five quartely deposite decreasing by $500 per quarter at an interest rate of 12% per years compounded quartely. how much will you have in your account 10 years from now
The national average for the verbal portion of the College Board's Scholastic Aptitude Test (SAT) is 507. The College Board periodically rescales the test scores such that the standard deviation is approximately 100. Compare and contrast the Empiri..
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