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the demand curve for seats at the drive-in delight theatre is given by p 48-02q the supply of seats is given by q 40a
waterson power corporations regulator has just allowed a rate increase from 9 to 11 cents per kilowatt hour of
in the example given in table 61 suppose neal experiences a small increase in income will he allocate it to
suppose that utility depends on the square root of the amount of good x consumed u radic xa in a spreadsheet enter the
cappuccinos c cost 3 each and music downloads of your favourite artist m cost 1 each from your itunes store income is
george spends his income on gasoline and other goodsa first draw a budget constraint with gasoline on the horizontal
instead of the ration in the preceding question suppose that the government increases taxes on gasoline in addition to
the price of cappuccinos is 3 the price of a theatre ticket is 12 and consumer income is 72a in a graph with theatre
suppose that you are told that the indifference curves defining the trade-off for two goods took the form of straight
a students income is 50 lunch at the cafeteria costs 5 and movies at the student union cost 2 eacha draw the budget
lionel likes to eat a nice piece of brie cheese while having a glass of wine he has a monthly gourmet budget of 120 in
an indifference curve is a relationship between two goods x and y such that utility is constant consider the following
draw an indifference map with several indifference curves and several budget constraints corresponding to different
draw an indifference map again in conjunction with a set of budget constraints this time the budget constraints should
from the equilibrium based on the data in table 61 let us compute some elasticities using the midpoint formula that we
suppose that movies are a normal good but public transport is inferior draw an indifference map with a budget
consider the set of choices facing the consumer in figures 612 613 and 614 the parent chooses between other goods and
four teenagers live on your street each is willing to shovel snow from one driveway each day their willingness to
consider a market where supply and demand are given by p 10 and p 34 - q respectivelya illustrate the market
redo the previous question with the demand curve replaced by p 26-23qa is this new demand curve more or less elastic
next consider an example of dwl in the labour market suppose the demand for labour is given by the fixed gross wage w
suppose an individual has utility that increases with the log of his wealth u lnw where w is a number that denotes
return to question 1 above and now calculate and plot the ap and mp curvesquestion 1suppose you are told by a
the table below defines the inputs required in the long run to produce three different output levels using different
a worker has a utility of income function defined by u radic ya plot this utility function for values of income in the