How should they decide the amount of their income to save

Assignment Help Microeconomics
Reference no: EM131020616

If consumers should allocate their income so that the last dollar spent on every product gives them the same amount of additional utility, how should they decide the amount of their income to save?

Reference no: EM131020616

Questions Cloud

Take advantage of a tax-free investment account : A recent college graduate has taken a new job at Work LLC, and since the company does not offer a traditional pension plan, she plans to take advantage of a tax-free investment account backed by a reputable financial institution that offers a guarant..
Evaluate a small business plan : The review should reflect the current external environmental factors that might affect the business plan's successful achievement of objectives.
Explain what happens to the market price of a bond : Logically explain in your own words the following bond relationship, and why it work so: "Long term bonds have a greater interest rate risk than do short term bonds."
Problem regarding the performance appraisals : Do you think performance appraisals should be done? Explain your answers. Is it worth the cost?
How should they decide the amount of their income to save : If consumers should allocate their income so that the last dollar spent on every product gives them the same amount of additional utility, how should they decide the amount of their income to save?
Find his weekly net pay : William Diggs is married and claims four withholding allowances. His weekly wages are $725. Calculate his Social Security and Medicare deductions and using the wage-bracket method, his federal income tax withholding. Find his weekly net pay.
Write a system of inequalities representing given situation : Write a system of inequalities representing this situation, where x is the number of bouquets and y is the number of wreaths. Then graph the system of inequalities.
Calculate values for the price elasticity of demand : Based on this information, what do we know about the price elasticity of demand for roses? What do we know about the price elasticity of supply for roses? Calculate values for the price elasticity of demand and the price elasticity of supply or ex..
Customer complaints and returns of a dvd : The Aurora Electronics Company has been receiving a lot of customer complaints and returns of a DVD player that it manufactures. When a DVD is pushed into the loading mechanism

Reviews

Write a Review

Microeconomics Questions & Answers

  Based on many years of experience a lecturer in econ241 has

based on many years of experience a lecturer in econ241 has determined that the probability distribution function of x

  Predict the worth in canadian dollars

If one kilogram of flour costs $2 in Canada, and 100 shillings in Kenya, what would Purchasing Power Parity predict the Kenyan shillingto be worth in Canadian dollars.

  Determine how some of the developments described

To get a better feel for wage determination, look at the "Work Week" column in the first section of Tuesday's Wall Street Journal. Determine how some of the developments described there are likely to affect aggregate supply. Make sure that you dis..

  What level would price have to be lowered

Calculate the implied arc income elasticity of demand.  I =? Given a price elasticity coefficient of -2.5, to what level would price have to be lowered to maintain there sales at a level of 28 million square yards. New Price =?

  Research kholbergs stages of moral development

Every corporation has a culture. This culture is influenced by individual and groups of different moral suasions. Research Kholberg's Stages of Moral Development

  Write linus production function

Linus sells hot dogs outside the Dakota Dome during tailgating. He needs exactly one hot dog and one bun to create a hot dog he can sell. Assume no condiments.

  Your role as the accountant prepare job description which

listed below are your new job requirements and at least one task for each.1 your role as an accountant prepare a job

  What is the trade weighted average tariff for your country

What is the trade weighted average tariff for your country for its total imports, as well as for its agricultural and non-agricultural imports - product categories in which the country has a comparative advantage?

  Describe monopolistic competition, its characteristics

Briefly describe monopolistic competition, its characteristics, and reasons why firms attain profit in theses competition by giving suitable visuals.

  Price elasticity remains constant along the demand curve

Suppose that 50 units of a good are demanded at a price of $1 per unit. A reduction in price to $.20 results in an increase in quantity demanded to 70 units. Show that these data yield a price elasticity of .25. By what percentage would a 10 percent ..

  Health administration question answer each of the

health administration question answer each of the questions below note that eachquestionis of equal weight and that

  Why are cartels inherently unstable

Noting that just one or two firms might be able to produce and sell similar products at lower prices than the many firms that sell quite similar products in the US, some people argue that monopolistic competition is wasteful. Why would many consu..

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