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Jane purchases food and clothing and has utility U(F,C) = 2FC with marginal utilities MUC = 2F and MUF = 2C. Let PF = $2 and PC = $10. Jane faces a weekly budget constraint $500. 1. Is the assumption that more is better satisfied for both goods? 2. Is MRS diminishing as Jane gets more F and more F? 3. What is Jane's budget constraint? Find slope. 4. What is the optimal basket that maximizes Jane's utility?
assume that two companies c and d are duopolists that produce identical products. demand for the products is given by
suppose you have the following simultaneous equations model:which are the endogenous variables (y & x3) and the exogenous (Z, X2) Im lost as to what X1 is because it appears on both equations? also which equation is identified or not identified or ..
VMIC Corporation has asked you to look at the following data. The interest rate is 10 percent.
Could it be possible that a government regulation led to flash crash and what does it mean "it's like a balloon"? What is like a balloon? Why is it like a balloon?
Suppose Microsoft chooses to produce 80 million copies of the software per year and sells copies of the software to retailers at $199 per copy. Now consider the problem of a retailer like Circuit City or Best Buy. Such retailers can sell as many c..
Carefully explain what will happen as we move from the short run to a long run equilibrium in a monopolistically competitive industry if firms are making a positive profit in the short run. Your explanation should clearly state what will happen t..
If a firm’s expansion path is a straight line starting on the origin, that implies that we have constant returns to scale (Hint – think of the Cobb-Douglas production function).
Determine what would be present value of an product that has a salvage value of $25,000 at the end of 5-years? Suppose a discount rate of 3.8 percent for an end of year factor.
suppose the inflation rate is 5. suppose the marginal product of capital in a firm is 8 but that in the course of
your company is currently engaged in business activities both nationally and internationally. a country you are
Suppose that aggregate demand increases such that the amount of real output demanded rises by $7 billion at each price level. By what percentage will the price level increase? Will this inflation be demand-pull inflation or will it be cost-push infla..
Find the quantity of toothpaste that maximizes economic surplus. What is the relationship between this quantity and the market equilibrium quantity?
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