User Account

All Pages

solve, Microeconomics

Assignment Help:
1. Suppose that Mr. John has the following Cobb-Douglas utility function
U = 6X^2/3y^1/3
the market price of X and Y commodity are $1 and $2, respectively. If Mr. John''s total income is $90, then answer the following questions:
i. write down the budget line equation
ii. Find the utility maximizing equilibrium quantity of X and Y commodities.
iii. Compute the maximum utility derived from the above equilibrium quantities
iv. Show the equilibrium condition graphically.
v. Compute the income share of commodity X and Y.

Related Discussions:- solve

Kinky demand curve, explane a kinky demand curve model

explane a kinky demand curve model

How do you define a control in economics, A control in economics means a st...

A control in economics means a steady profit rate that is enhancing. Thus, after one year you could have £1mill profit then the next year £3mill profit etc.

Define the price elasticity, Price elasticity is used in economics to deter...

Price elasticity is used in economics to determine the changes in price of goods and services. It measures the change in price demanded and quality supplied. Determinants of pri

Monopsony, disadvantages of monopsony

disadvantages of monopsony

Indifference curve, what are the properties of indifference curve

what are the properties of indifference curve

Need anser, Consider what would happen if a taxes of 10000$ was imposed on ...

Consider what would happen if a taxes of 10000$ was imposed on imported automobiles on dealers.Using a demand and supply diagram, show its impact of price and quantity. Suppose the

Uses of national income statistics, Uses of national income statistics: ...

Uses of national income statistics: - It helps to organize economic data and activities. - It helps to classify economic activities into various segments or sectors. - It he

Supply, what happen when a supply shift to the right on a graph

what happen when a supply shift to the right on a graph

Cross elasticity of demand, an introduction to cross elasticity of demand?

an introduction to cross elasticity of demand?

Principles of economics, The basic concepts of price theory

The basic concepts of price theory

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd