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!
Timothy's utility function is U(x,y)=ln??x+ln?y ?. Find his demand for x and y as a function of income and prices x(p,I),y(p,I) For questions b)-c) Assume I=90, p_x=15, p_y=15 Find Timothy's demand curve for good x, and plot on a graph Show on a graph the effect of an increase in income on consumption of both x and y using the income consumption curve. Is x an inferior good or a normal good?. Jinny's Jumpers producers jumpers using wool (W) and labour (L). Her production function is f(W.L)=4√WL. Wool costs $5/unit while labour costs $20 per unit. [please put L on the x-axis and W on the y-axis] Find her cost-minimizing bundle of wool and labour if she wants to produce 6 units. Show on a graph with the isocost and isoquant curves. Suppose the cost of labour decreases to $10 per unit, Explain using a graph how her optimal input bundle will change. [you don't need to find the new optimal bundle, just show the change on a graph] Suppose now that the cost of labour and wool both increase by 50% (from the original $5 and $20). Explain what effect this will have on the optimal input bundle, and why.
Suppose Mabel has a utility function U = I1/2. What is Mabel’s general attitude toward risk? How do you know? Explain.
Given your answer above, explain whether, all else equal, the supply of the IRP increases, decreases, or remains unchanged. Explain the reason for your answer and depict it on your graph above.
Assume the government sets a uniform standard for winter and summer at A = 500. Support or refute this policy based on the criterion of allocative efficiency, using your model to explain your response.where A is the level of CO abatement
Trapper Joe, the fur trader, has found that his production function in acquiring pelts is given by q = 2?H where q = the number of pelts acquired in a day, and H = the number of hours Joe's employees spend hunting and trapping in one day. Joe pays hi..
describe at least two 2 situations in which you have employed self-handicapping in the past. what would the costs
The output sold by a particular firm may be quite different from the output sold by the other firms in the market
You and a friend must work jointly on a course project. Frankly, your friend is a less-than-ideal partner. His skills as a researcher are such that he can review and outline only two articles a day. Moreover, his hunt-and-peck style limits him to onl..
Among perfect competition, monopolistic competition, oligopoly, and monopoly, how would you classify the markets for each of teh drinks.
list the new technology developments in the areas of generic and networked computing and web-based systems. what are
as a supervisor for the hospital pharmacy that uses an integrated delivery system ids you are responsible for
What are excess reserves? Why would banks keep them? How do banks current holdings of excess reserves compare to what they have historically held? Why?
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..
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