Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
1. A consumer has $300 to spend on goods X and Y. The market prices of these two goods are
Px $15 and Py $5.
a. What is the market rate of substitution between goods X and Y?
b. Show how the consumer's opportunity set changes if income increases by $300. How does
the $300 increase in income alter the market rate of substitution between goods X and Y?
2. A consumer must divide $ 600 between the consumption of product X and product Y. The relevant market prices are Px = $10 and Py = $40.
a. Write the equation for the consumer's budget line.
b. Show how the consumer's opportunity set changes when the price of good X increases to $ 20. How does this change alter the market rate of substitution between goods X and Y?
What percentage of drivers have a reaction time more than 1.88 seconds? What percentage of drivers have a reaction time less than 1.46 seconds?
A recent industry report concluded that the global demand for the good X is expected to increase. Based on the demand projections given in the report Colaba, a firm that produces and sells X, is contemplating hiring more labor to increase production...
At an oral auction for a chafing dish, half of all bidders have a value of $160 and half have a value of $120. What is the expected winning bid if there are two
A firm is currently producing 80 units of output. At this level of output produced, P=150 and ATC=120. Also assume that MC=130 and MR is constant at all output levels and equal to 150. Is this firm making profits? If so, what are these profits? Is th..
q. under what elasticity conditions would the following be trueincreasing the minimum wage will result in a decrease in
Why do upper socioeconomic status and lower socioeconomic status class individuals behave unethically?
q.suppose that a person regards ham and cheese as pure complements- he or she will always use a slice of ham in
A one-price monopolist faces a demand of P = 107 – 0.015Q and has a total cost function C(Q) = 5000ln(Q) + 30Q. Calculate the profit of the monopolist. Draw a picture as part of an explanations why the regulator may choose a price ≈ 39.33. Find the n..
Suppose that a monopolist's product could be either high quality (H) or low quality (L).
During the last year, the demand for books has been falling. At the same time, some industry observers expected that several smaller book manufacturers might exit the market due to the strong competition imposed by Kindle. Clearly show on your graph ..
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitute's one product for another. Use examples to illustrate.
There is the long debate on the Frisch-Elasticity being the driver of unemployment over the business cycle. Women have a bigger elasticity than men, yet their employment fluctuates less over the business cycle.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd