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If the price of A is $2, the price of B is $3, and the price of C is $1, how much of each will Daniel purchase in equilibrium?
How would each of the following events effect a household reaction on spending:
The question is what's the maximum probability of that last last thing happening (-$10 million) that will induce the person to vote for action?
Will Type 1 individuals purchase an insurance policy? Will Type 2? Show your work.
Draw a graph that shows Pete’s consumption possibilities. How many rock concerts and how many operas does Pete now attend?
What role does economics play in our personal decisions? What role does economics play in the organizational decisions?
Determine the demand functions for pizza and beer (mathematically).
Why is the marginal cost of inputs more important than the average cost of inputs?
Knowing your own utility and assuming that all your coworkers actually bid their true utilities, how should you bid?
How can you go about finding L*? normally it is where the budget constraint and utility functions slopes are equivalent
Solving this problem either numerically or symbolically, how much of the public good will be produced and by whom?
Show that the autarky relative price for country A is not uniquely determined, and in fact can lie anywhere in the interval between zero and infinity.
Would you consider that Fred was making a utility-maximizing choice and if so why or why not? If not, what should he do and why?
In the context of the usual utility maximization problem involving n (>2) goods, prove that not all goods can be Giffen and that a Giffen good must have.
Derive and interpret the Slutsky equations and explain what happens if g double prime (s) = 0
At this level of pollution, what is the marginal cost of pollution?
Would you ever bid more than v regardless of how the other players bid? Explain.
What utility are you looking for id and when you use commercial aircraft for longer distances?
Problem: For each of the following situations, decide whether Al has increasing, constant, or diminishing marginal utility.
1) Does the lower price alter the marginal utility you originally placed on the item?
Would the shareholders choose to reinvest by issuing new equity to pay for the loss or are they better off walking away from the firm?
How many additional dollars of income would it take to make the worker work 10 more hours a week?
Is there a parallel between diminishing marginal utility in consumption and diminishing returns in production?
Question: Every November, Smith and Jones each face the choice between burning their leaves or stuffing them into garbage bags.
Question: How do I compute the Expected Utility given the probabilities and the utility of each outcome that I am given?