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Q1. At Dave's current consumption bundle (involving positive units in both hot dogs and sodas) his marginal utility for hot dogs is 5 and his marginal utility for sodas is 4. If the price of one hot dog is $3 and the price of one soda is $2, is Dave currently maximizing his utility? If not, how should he reallocate his spending in order to increase his utility?
Q2. John spends $I on bottled water which he can buy in two sizes: 0.75 liter and 2 liter. The water is identical in the two sizes and John gets no utility from the containers themselves, only from the water. How to define a utility function?
Janice Wallermthe manager of the customer service depart at First Bank of Jefferson County,can hire employees with a high school diploma for $20,000 and employes with a bachelor's degree for $30,0000.
In general conclude which of the five competitive forces has the most significant impact on approach.
Which of the subsequent represents a positive macroeconomic statement. Assume the United States can produce Toyotas at the cost.
Graphically show deadweight welfare loss due to monopolies and then explain what it means. How can we see or feel this deadweight welfare loss?
Explain how advertising did or did not play a key role in your decision to purchase which product. Why might it be excessive at times.
Explain the effects of monetary policies on the economy's production also employment
Elucidate what will be the price of your jersey in Los Angeles and what will be the price in Brooklyn. What will be your total profits.
A firm has $1.5 million in sales, a Lerner index of 0.57, and a marginal cost of $50, and competes against 800 other firms in its relevant market.
The senator is considering tax reform that would dramatically cut tax rates, leading to a supply function under the new tax policy Qs = 4.171P - 110. Illustrate how much money would a typical consumer save each month as a result of the proposed le..
Illustrate what would be the production possibility frontiers for Brazil as well as the United States.
The equilibrium price of coffee mugs rose sharply last month, but the equilibrium quantity was the same as ever.
U.S. Airways experienced huge losses for several years in the 1990s, yet it continued to operate its fleets.
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