Wealthy local politician promises

Assignment Help Business Economics

Reference no: EM131169301

A clever, rich, and wealthy local politician promises to give you $1,000 on the first day of four months before elections….From here on he will give you 9/10 of the amount he gave you the day before…

i. What is the total amount you will receive?

ii. When will you receive the last payment?

Note: I need the answer step by step.

Reference no: EM131169301

Questions Cloud

Aggregate demand and short-run aggregate supply : The following events have their initial impact on which of the following:aggregate demand, short-run aggregate supply, long-run aggregate supply, or bothshort-run and long-run aggregate supply? Do the curves shift to the right or left? Explain AND su..

Rise in the price level triggered by higher oil prices : Using AS-AD diagrams, illustrate each of the following economic situations by showing the patterns and shifts of either AS or AD that could cause them to happen: a rise in the price level triggered by higher oil prices;

Three social welfare functions for a society of five persons : Suppose you have three people who are suggesting three social welfare functions for a society of five persons. Person 1 suggests the sum of the utility of each individual (U1+U2+U3+U4+U5). Person 2 suggests using the minimum utility of each individua..

Attempts to prevent future terrorist attacks : Summarize the events of September 11 and describe the way that this terrorist attack affected the nation. Describe the immediate reaction of the nation as well as the federal government’s attempts to prevent future terrorist attacks.

Wealthy local politician promises : A clever, rich, and wealthy local politician promises to give you $1,000 on the first day of four months before elections….From here on he will give you 9/10 of the amount he gave you the day before… What is the total amount you will receive? When wi..

What is her net demand of apples and oranges respectively : Alice, living in Columbus, consumes apples and oranges and nothing else. Let us denote Apples by A and Oranges by O. Let PA denote the price of apples and PO denote the price of Oranges. Alice’s is born with 60 Apples and 30 Oranges. PA = 5 and PO = ..

What is the optimal consumption bundle for this consumer : Consider a consumer who consumes two goods, x and y. He has Cobb-Douglasutility function given by U(x, y) = xy. Let the income of the consumer be 100.dollars. Price of x is $5 per unit and price of y is $10 per unit.MRS = y. What is the optimal consu..

If the supply curve for aspirin is perfectly elastic : If the supply curve for aspirin is perfectly elastic, then a reduction in demand will cause the equilibrium price to:

Current trends in the business environment : One of the current trends in the business environment is the shift in many organizations to a group based or team based organizational structure. Why is this happening? What do you think are some potential pros/cons of implementing this type of chang..

User Account

All Pages