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!
The population of a town in California is made up of people of two professions: fifty prospectors and fifty streamers. Prospectors dig for gold, and streamers buy stakes in the possible finds. Everyone in town has the same utility of owning gold: U = 2 ln x
a) If a prospector is lucky, he discovers 200 ounces of gold. If he is unlucky, he discovers 10 ounces. Prospector is lucky 40% of the days. If there are many prospectors in the town, what is the expected find for a prospector?
b) Calculate the utility of a prospector on a good day and on a bad day. What is the expected utility for a prospector in the town?
c) A multitude of streamers deals with a multitude of prospectors in the town. Thus, the daily stream of gold for a streamer is equal to the expected find of a prospector. Calculate the utility of the daily stream.
d) What is the minimum price a prospector charges a streamer for the stream of gold?
Raj's Utility bundles of X and Y is given by U(X,Y)=XY A. Fill in the table with Raj's utility for the corresponding bundles x=1 x=2 x=3, y=1 y=2 y=3 B. Write a formula for Raj's indifference curves. Draw one such curve.
Workers must travel from Smallville to the Steel Mine and return every day
Calculate the equilibrium price and quantity. Sketch the supply and demand curves on a graph indicating the equilibrium.
describe the market structure in which orange farmers operate and what happens to profits in the long run. how do firms
1.how do you know that the firm represented in the graph above is a purely competitive firm?2.to maximize profits this
you are one of the countries budding entrepreneurs which qualities do you have and how are you going to use them to
What price should be set if the commission wishes to eliminate economic profits?
The cost for loss of heat from the pipe per meter is $4.8/X1/2 per year. Here, X represents the thickness of insulation in meters, and X is a continuous design variable.
suppose that a borrower and a lender agree on the nominal interest rate to be paid on a loan. then inflation turns out
the director of supply management at acme industries has come to you about choosing a source for a screw fastener that
question 1the key assumption of the basic keynesian model is that in the short run firmsanswer meet demand at preset
The owner of Michaels Prints a firm that prints business cards tell you that as a result of an increase in the wage rate of printer operators he has reduced the amount of output he produces and the amount of capital he uses how should you respond
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