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!
Mikes' preferences for consumption and leisure may be represented by the Utility function: u(C, L) = ( C-200)*(L-80) . His marginal utilities of leisure and consumption are (C-200) and ( L-80) respectively. There are 168 hours in the week available for both work an leisure. He earns a nominal wage of $20 and the price of consumption goods is $4. He also receives a nominal amount of $1280 of non-labour income as a transfer. Note: First, make it all real!
a) Graph Mikes' budget line and label all.
b) If Mike works 40 hours and he is on the budget line, what is his MRS?
c) What is his optimal amount of consumption, leisure and work?
d) What is his nominal reservation wage?
1) A) Suppose that several months of data showed the CPI increasing at a 4.5% annual rate due largely to increases in the price of energy and food related commodities following sev
Capital: Broadly defined, capital represents tools that people use when they work, to make their work more efficient andproductive. Under capitalism, capital can also refer to a su
The least square method is based on the assumption that the past rate of change of the variable under study will continue in the future. It is a mathematical procedure for fitting
ELEMENTARY THEORY OF PRICE FORMATION: DEMAND-SUPPLY ANALYSIS: We discuss the elementary theory of price formation. Demand curve in the market is derived from the aggregate con
I need help on MCQs on international trade and imperfect competetion
Production: - Firms should choose how much of each to produce. - The alternative quantities can be illustrated by using product transformation curves. Product Transforma
A trust is build to acquire shares in organizations for subsequent allocation to employees over time by time.
What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities
Costs: If raw materials, machines and other things required for production could be made available freely then the study of the theory of the production and indeed, the study of
Problem 1: a. Briefly explain and distinguish between a centrally planned, laissez-faire and mixed economy. b. According to you, which type of economic system is most desira
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: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd