Suppose a consumer has the utility function uxy xy12
Suppose a consumer has the utility function u(x;y) = xy1/2. Suppose the prices and income are given as Px = $2;Py = $3; I=$900:
a) Draw the budget line.
b) Find MRS. Is it diminishing?
c) Draw the optimal Bundle
d) Draw the Engel curve for good.
Now Priced at $20 (50% Discount)
Recommended (99%)
Rated (4.3/5)
Describe how the Federal Reserve can affect the money supply and interest rates.
Using the aggregate demand-aggregate supply model, explain how the depreciation of the US dollar in terms of foreign currencies would affect the economy.
Describe the probable impact of an increase in government spending assuming no change in taxes or private spending and less than full-employment output.
What are the main characteristics of an oligopoly? Give an example of an industry with an oligopolistic structure. What are the firms in this industry?
The value of a home depends on how attractive other homes and yards in the area are. How do local zoning ordinances try to promote land uses that generate external benefits for neighbors?
Why do you think the stock market has performed or offered higher return than the bond market in the last 30 years? Why do you think gold is dong so well recently? Briefly discuss
Find all pure-strategy Nash equilibria in the game below. List each Nash equilibrium in (Player 1’s Strategy, Player 2’s Strategy) form.
Joe the Plumber runs a competitive firm. He does 20 works per week, and charges $50 per week. His total cost each week is $1200, of which $300 is Fixed cost. Draw a diagram about his short and long run decision.
1949211
Questions Asked
3,689
Active Tutors
1414306
Questions Answered
Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!
After treating a patient injured in a rather unusual sporting accident, the hospital released to the local media, without the patient's authorization
Assignment Task: Refine this version: Promoting a change in support of the palliative care model involves a multifaceted approach.
Members are given information on eating disorders to develop a deeper understanding of the illness and the therapies used to treat it.
What is the main theory or theoretical framework? Give the main propositions or key concepts of the theory.
To identify effectiveness of treatment of polycystic ovarian syndrome (PCOS) using lifestyle changes and herbs on fertility.
Problem: Before beginning the focused assessment of the heart, the nurse asks the client's adult children to step out of the room.
Inspection reveals a bright reddened area about the size of a baseball on the right cheek and redness and irritation of the right eye.