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!
Tony likes nuts (N) and berries (B). He has a monthly income of $200 to spend on these two goods. The price of nuts stays at $4 around the year because nuts are so easy to store, but the price of berries varies a lot. Last year the price of berries was $5 in August; but in December it reached $8.
a. Write the equations of Tony’s budget lines in August and in December. Graph these budget lines (put nuts on the y-axis and berries on the x-axis).
b. Being a rational consumer, at August prices Tony purchased 25 nuts. How many berries did he consume in August? What was the marginal rate of substitution at the optimal consumption bundle?
c. After three months of price growth, in December Tony consumed 20 nuts. What was his consumption of berries? What kind of goods are berries and nuts for Tony?
d. It is known that Tony’s demand for berries is linear. Using your answers to questions (b) and (c), derive his demand function.
Ellen wants to start a business. She is leaning toward setting up her company as a sole proprietorship, but she is also looking at other possibilities. Ellen has two major goals. First, given her limited personal wealth and eagerness to get starte..
The demand for speciality glue is given as: P = 1200 - 6Q, where P is value per 100 pounds of specialty glue produced and Q is the amount manufactured.
Event 1: The wages for all dental assistants increase, increasing the costs of inputs. Event 2: The government provides national dental insurance benefits for all U.S. citizens that cover 100% of the cost of all dental services. There are two effe..
If the demand for corn rise due to its use as an alternative energy source, what will happen to supply of corn's substitute such as soybean?
Determine the present worth of 5 annual deposits of $1,200 at the end of years 1 through 5, followed by 4 equal annual withdrawals of $700 at the end of years 4 through 7. Note that both years 4 and 7 will have a depsoit and a withdrawal. Interest..
Assume the firm can produce 5000 units of out put by combining its fixed capital with 100 units of labor and 450 units of raw materials. What are the total cost and average total cost of producing 5000 units of output?
Question about micro economics- Sam Smith owns an internet radio company that has subscribers in Houston and Dallas
Historically, shifts towards a more expansionary monetary policy have often been associated with increases in real output. Is this surprising? why or why not?
Specifically, you should help Nick obtain key market insights through marketing research. In addition, you should help him to determine which countries besides the U.S. (the primary target market) should be targeted to make the most out of his new..
Suppose a firm in the short run under perfect competition with P=250, TC=1,000 + 100Q + 2.5Q^2 , and MC=10+5Q-Find out the level of output that the firm needs to produce to maximize profits?
Industry studies often suggest that firms may have long - run average cost curves that show some output range over which there are economics of scale and wide range of output over which long- run average cost is constant; finally, at very high out..
Despite strong sales and a low marginal cost of producing the product, your company has yet to show a profit from selling the drug.
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