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!
Problem associated with second video: Demand with Cobb-Douglas utility function
All the workers in a factory have the same utility function u(x1, x2) = x1x2, earn the income of 12 and face the same prices p1 = 1 and p2 = 1.
(a) What is the optimal consumption bundle for the workers? What utility do they obtain?.
(b) Graph the indifference curve that goes through the optimal consumption bundle. In the same graph draw the budget set.
(c) Unfortunately for the workers there is an increase in p1 of 100%. What is the new p1? What is the new optimal consumption bundle and what utility do they obtain?
(d) In the same graph as in point b, draw the indifference curve that goes through the new optimal consumption bundle and also draw the new budget set.
q. 1. what is a business organization?2. what is the most common form of business organization?3. define sole
Assume that when an economy has a GDP of $500, Consumption is $550. The MPC is .75. Investment is 25. Begin the problem by setting up an Income/Consumption Schedule like the one on page 190 of your text. What is the Break-Even level of Income? What i..
Choose a company whose stock is publicly traded on a United State stock exchange. What strategic changes has this company made over the last 18 months to respond to changing macroeconomic conditions?
q.assume there are 2 products clothing as well as soda. both brazil plus the us produce each product. brazil
Use short-run supply demand analysis to indicate how equilibrium price and quantity will change if the following changes occur in the economy. Draw a supply and demand curve for each answer and provide a brief one sentence explanation. Potatoes are a..
The following are different types of production function. Determine whether each one has constant, increasing or decreasing returns to scale.
what value would you predict for S? b. What happens if P is reduced to $17,1500? c. How would you go about developing a value for k? d. What are the potential weaknesses of this model?
Bob and Jane decide to open their own business selling ergonomically correct office furniture that Jane has designed. Assume they operate this business from leased office space near their home. Is Bob & Jane's economic profit different from their acc..
If we accept Marx's labour theory of value, we run into a different problem: if a working day of 8 hours creates same amount of value in a highly mechanized industry as in an industry with few machines, why do capitalists introduce machines.
While negotiating the future amount, Wylie notes that he would be willing to take no less than $5,700 if he has to wait a year. What is his TVOM in percent?
Is the long-run demand for a factor more, or less, elastic than its short-run demand? Explain why, and illustrate graphically.
Illustrate what price should the firm charge if it wants to maximize its profits in the short run. What arguments can be made for charging a price higher than this price.
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