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With the per-unit prices of broccoli (B) and pork rinds (R) equal to $2 and $1 respectively, a consumer George, with an income of $1,000 purchases 400R and 300B. At that point, the consumer's MRSBR = 2R/1B. Does this mean that George would be just as well off consuming 200R and 400B?
Suppose two firms 1 and 2 compete in quantities and face a demand curve p = 100 - q. Suppose firm 1 has a constant marginal cost of 10 while firm 2 has a constant marginal cost of 40. Suppose they produce quantities simultaneously. a.Find quantity..
a consumer is currently purchasing three pairs of jeans and five T-shirts per year. The price of jeans is $30, and T-shirts cost $10. At the current rate of consumption, the marginal utility of jeans is 60, and the marginal utility of T-shirts is ..
Mac Rowe doesn't sweat the petty stuff. In fact, he just cannot detect small differences. He consumes two goods, x and y. He prefers the bundle (x,y) to the bundle (x',y') if and only if (xy - x'y' > 1) . Otherwise he is indifferent between the tw..
The Economic Survey estimated the Forex reserves of India at over 297 billion US dollars. The surge in Forex is attributed to growth in which of the following sector Gross Fiscal Deficit stands at 4.8% of GDP. What was the percentage of Gross Fisc..
Assume a continuous-time solow growth model with no technical progress. The economy is closed and there is no government sector. Labor supply is given by L_t = e^nt, n>0. The average propensity to save out of GDP is s,, with 0
The Mineola Corporation hires a consultant to estimate the relationship between its profit and it output. The consultant reports that the relationship is f = -10 - 6Q + 5.5Q2 - 2Q3 + 0.25Q4 a. The consultant says that the firm should set Q equal..
This question considers a closed economy Keynesian model that is augmented to include transfers payments to consumers (Tr = Transfers) that increase consumers' disposable incomes and lower government savings.Derive and calculate the Keynesian mult..
where a > 1. In addition assume that the firms target own profit maximization, compete (simultaneously) in quantities and have marginal costs equal to c1 = c2 = c. Assume that 1 > c > or equal to 0. Describing the necessary mathematical steps, an..
We have three variables, Information is 2000-2005. I use OLS to Determine the model and get a standard result.
The Clap Chemical Company needs a large insulated stainless steel tank to expand its plant. Clap has located such a tank at a recently closed brewery. The brewery has offered to sell the tank for $15,000 delivered.
Determine what is the state of the economy in brazil versus the united states and discuss the GDP of brazil and the united states?
Suppose the marginal benefit of writing a contract is $100, independent of its length. Find the optimal contract length when the marginal cost of writing a contract of length L is: a. MC(L) = 30 + 4L. b. MC(L) = 40 + 5L.
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