User Account

All Pages

Same level of utility as before

Assignment Help Business Management
Reference no: EM131263614

Alice's utility function is such that she is always indifferent between 1 unit of x and3 units of y. Suppose initially px = 2, py = 1, and I = 10. Alice chooses x and y tomaximize her utility. Then the government imposes a 100% sale tax on x (the priceof x doubles). How much MORE does the person have to earn in order to achieve the same level of utility as before? (Find the increase in income required to achieve thesame utility level) 

Please give the explanation for the answer

(a) 0

(b) 5

(c) 10

(d) 18

Reference no: EM131263614

Questions Cloud

Role of manager and leader in diversify health care industry : How these functions apply to managing others or even yourself in your current or previous job. Roles of managers and leaders in the diversified health care industry.
What skills juanita have develop to better fulfill her role : What skills might Juanita have to develop to better fulfill her role? How might Juanita engage line managers to become more involved in what has traditionally been HR's function in this organization?
Write why the article is credible : The article is about a ghost experience. you should write why the article is credible. - This is the article written by Margee Kerr you are going working on.
Think about the cash basis versus the accrual basis : Think about the cash basis versus the accrual basis of accounting. When are revenues and expenses recognized in each of the methods
Same level of utility as before : Then the government imposes a 100% sale tax on x (the priceof x doubles). How much MORE does the person have to earn in order to achieve the same level of utility as before? (Find the increase in income required to achieve thesame utility level)
Describe the impact of telecommuting on it operational costs : Describe the impact of telecommuting on energy conservation, IT operational costs, "green computing", and shifts in telecommuters' lifestyles (e.g., parents, disability, etc.).
Subheadings and bullets for the remaining sections : The introduction and references should be as complete as possible. The other sections should have, as a minimum, an outline of the material to be presented. Subheadings and bullets for the remaining sections are acceptable at this point.
How you would identify possible sources of the problem : Develop a plan of action that includes how you would conduct the investigation, how you would identify possible sources of the problem, and your opinion on the likely source.
What is the resulting upper triangular matrix : Carry out Gaussian elimination in its simplest form for this problem. What is the resulting upper triangular matrix? Proceed to find the solution by backward substitution.

Reviews

Write a Review

Business Management Questions & Answers

  Write a memo explaining that you want all of your employees

Write a memo explaining that you want all of your employees to learn about the new product that the company will be selling -

  Sustainable approach towards businesswhy might management

sustainable approach towards businesswhy might management resist choosing to go green? what reasons might there be for

  Evaluation of effective delegation skills from a manager

Citation of academic sources within your presentation which support your training concepts and provide an aligned References slide. Both citations and references should reflect accurate APA format.

  Knowledge management and rampdyou are the global subsidiary

knowledge management and rampdyou are the global subsidiary branch manager of a u.s.-based mne leather extraordinaire

  What are the opportunities and threats for a business

Is it possible for a business to try to sell to everybody? What are the opportunities and threats for a business is trying to sell to everybody

  Explore the impacts of recession on small businesses

Explore the impacts of recession on small businesses - formulate a framework to explore these impacts on a wider scale to provide strategic guidelines that will help build the resilience of small businesses during the periods of recession.

  What role does communications play in sustaining texas

What role does communications play in sustaining Texas Nameplates entrepreneurial culture

  Develop single message for business

Select a small business in your community. Briefly analyze the business's customers or potential customers and develop a single message for the business.

  Discuss how your understanding of the balance sheet

Discuss how your understanding of the balance sheet and income statement may be applied to your current or future position

  International trade article

Review The Economist or any other publication covering the world economy, international trade, or international economics and provide summary of an international trade article in about 2-3 pages, citing and providing the reference.

  How would this affect the segmented markets theory

Consider a normal yield curve.  a. How would this affect the segmented markets theory (explain)?   b. How would this affect the expectations hypothesis (explain)?

  Chemical manufacturer

The Dosit Corporation is a chemical manufacturer, and its products are sold to other manufacturers and used in household cleaning products. The company has 290 employees with about 220 involved in the production process, 30 working as maintenance per..

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd