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!
Tyrion, who likes beer and wine, lives in Westeros, where people buy things with Silver Stags (SS). The price of wine is 5SS per flagon and the price of beer is 2.5SS per jug. Tyrion’s daily income is 50SS.
a) Draw Tyrion’s budget line, putting wine on the y-axis and beer on the x-axis. Clearly label your diagram.
b) Tyrion’s utility function is U = Wine+Beer. Draw an indifference curve corresponding to U = 20. Clearly label your diagram.
c) Tyrion’s optimal consumption basket includes flagon(s) of wine per day and jug(s) of beer per day.
d) Assume that Tyrion’s utility function is U = Wine+? Beer. What is Tyrion’s daily consumption of wine?
What probability of discovery would make the driller indifferent between drilling and not drilling and what is the expected value of perfect information on reserves?
determine what sales price must be obtained at the end of that period in order for Amjay to break even, when the interest is 12 percent.
What could firm A do to make its threat credible without building excess capacity? Will firm A use the low price as a threat if firm B enters?
(The Long-Run Industry Supply Curve) A normal good is being produced in a constant-cost, perfectly competitive industry. Initially, each firm is in long-run equilibrium
do you think the price of crude oil has produced an upward or downward supply shock, or neither? How can you tell? Looking at historical data, when did the most recent oil-related supply shocks occur?
What are your monthly payments during years 5, 6, and 7? b. How much interest is in the sixtieth month's payment? How much principal?
assuming economy is in a long run equilibrium, show fraction of total output earned by labour and fraction of total output earned by capital. Explain why, in long run, firms make zero economic profits in this economy.
Illustrate what might you call an outward shift of a nation's production possibilities frontier.
q.the private marginal cost is mcp 80 q while the marginal harm to the rest of society from gunk is suppose the
Illustrate diagrammatically the set of allocations that are Pareto preferred to the initial allocation.
Suppose that in year 2008, the money supply is $400 billion, nominal GDP is 9 trillion, and real GDP is $4 trillion. Illustrate what is the price level. What is the velocity of money.
The cost of building a new high speed railway system is reported to be high at 25 billion. Does it necessarily follow that the high speed railway is not worth building?
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