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Takashi has non-labor income from his investments of I = $60 per day, and can earn an hourly wage at his job of $20 per hour. a. Write a formula for Takashi’s budget constraint as a function of L (leisure hours) and C (consumption spending per day). Draw a diagram showing this budget constraint. b. Suppose Takashi’s utility function is given by U = 2lnL + lnC, where ln is the natural log. Calculate Takeshi’s optimal number of leisure hours L*, labor hours H*, and consumption C*. Hint: equal slopes and on the budget constraint! c. Is Takeshi’s labor supply curve upward or downward sloping as a function of the wage? Explain. Hint: Use calculus and resolve for the optimal L given a generic W rather than $20.
Illustrate what are the pros and cons of using expansionary and contractionary fiscal policy tools under the following scenarios: depression, recession, and robust economic growth.
Provides a conceptual base for managers to assess and enhance strategic performance in a business organization through the integration of the core business functions, effective resource management, and sound leadership.
Is there any range of production characterized by scale of economies. At Illustrate what production level are scale economies exhausted.
q.suppose that a group of sonoma county buy local advocates propose a complementary currency that can only be used to
Suppose two firms compete by selecting quantities q1 and q2, respectively, with the market price given by p = 1000 – 3q1 -3q2. Firm 1 (the incumbent) is already in the market. Firm 2 (the potential entrant) must decide whether or not to enter, and if..
how much should you be able to get if you sell your future inheritance to the Neopolitan Bank (or any other bank) right now? Explain your work and why your answer makes intuitive sense.
Karen runs a print shop that makes posters for large companies. It is a very competitive business. The market price is currently $1.00 per poster. She has fixed costs of $250.00. What is her AFC per poster if she prints 1,000 posters? What is her AFC..
Dennis is only interested in two things, eating food and playing the online multiplayer game Globe of Gratuitous Violence (GoGV) – a close competitor to world of war craft. Dennis’s utility is given by the function € U(q f , qg ) = 0.25ln(qf ) + 0.75..
Identify the Classical prescription for curing unemployment and contrast it with the Keynesian prescription. Which prescription do you agree with? Why?
Opponents of NAFTA point out that pollution is largely a free good in Mexico also that being free to pollute gives industries in Mexico an economic advantage over those in the U.S. also Canada.
q1. explain how does a country become an importer of a good? an exporter of a good? illustrate what is a tariff?
Discuss how you would use regression to help you with your task—specifically, explain how you would go about evaluating the goodness-of-fit and the predictive efficacy of your model.
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