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!
Bob’s utility function is given by . 0.5 0.5 U = X Y Bob earns $400. The price of X is $2 and the price of Y is $4. a. What is Bob’s optimal consumption bundle before any price change? b. Suppose the price of X increases to $4. What does Bob consume after this price change? c. Find the substitution effect, the income effect and the total effect from the price change (for good X). Based on your answer, is X a normal or an inferior good for Bob? d. Draw Bob’s demand curve for good X. Make sure all relevant points are well-labeled.
Find out the net demand curve facing firm A. Describe A's optimal price and output. Explain how much output do the other firms supply in total.
Equilibrium GDP is $5000 while full employment is $6000. What kind of gap is this? What would the Keynesians say the government should do? The correct economic policy would cause Aggregate (Demand or Supply) to (rise or fall)?
U.S. government price supports for milk led to an unceasing surplus of milk. In an effort to reduce the surplus about a decade ago, Congress offered to pay dairy farmers to slaughter cows. Use two diagrams, one for the milk market and one for the mea..
According to the rule of most favorable input usage, a firm should hire a person as long as her marginal revenue product is greater than her marginal cost to the corporation.
The owner of an exhaustible resource should ________ current extraction rate if the expected price increase of the resource is ________ the interest rate.
The typical right wing/free market argument that leads to privatisation of government assets is that the government assets will be far more efficiently managed when in the hands of profit seeking capitalists, rather than being owned by the government..
Old Economy Traders opened an account to short sell 1,300 shares of Internet Dreams at $46 per share
A large automobile manufacturing company is considering the installation of a high-tech handling system. The initial cost of the system is $30,000,000 and it is estimated it will save $7,500,000 per year in manual labor, and will incur $2,750,000 in ..
Rex Hofer has determined that demand for his product is given by Q = 180 - 5P and a cost equation given by C = 75 + .3Q. Determine the optimal price and quantity for the firm. Suppose that costs change to C = 25 + .4Q. Determine the new optimal price..
Explain how the Fed's use of its three tools of monetary policy affect supply and demand in the market for reserves and the equilibrium federal funds interest rate.
Free trade will affect a country's employment in different industries. Banks can obtain funds to make loans by borrowing reserves from other banks through the federal funds market. When one individual writes a check to another individual the money su..
Suppose that the cost of capturing a cockatoo and transporting him to the USA is $40 per bird. Cockatoo are drugged and smuggled in suitcases to the USA. Half of the smuggled birds die in transit. Each smuggled bird has a 10% probability of being dis..
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