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What are the major objectives of macroeconomics? Write a brief defi nition of each of these objectives. Explain carefully why each objective is important.
Discuss the various disciplines that contribute to Organisation Behaviour, outlining how these contributions are reflected in an organisation's life circle.
If George spends $5 a week on good X and good Y and if price of each good is $1 per unit, then how many units of each good does he purchase to maximize utility?
Determine the equilibrium price and quantity. Compute the elasticities for each independent variable. Note: Write down all of your calculations.
Why would the value of the income elasticity of demand for x be different if Ann always spends 60 percent of her income on good x?
If the demand for a product is perfectly price inelastic, what does the corresponding price consumption curve look like?
If not, under what circumstances might the demand curve have an upward slope over some region of prices?
If indifference curves are bowed in toward the origin and the price of a good drops, can the substitution effect ever lead to less consumption of the good?
What is a price consumption curve for a good? How does a price consumption curve differ from an income consumption curve?
Draw a graph illustrating Angela's budget line and optimal basket when she joins no club, the budget line she would have faced had she joined the Premium Club.
What can be said about the cross-price elasticity of demand of food with respect to the price of clothing?
Illustrate the income and substitution effects of the price change on the consumption of food. Do so for each of the given cases.
What must always be true about Reggie's income and substitution effects as the result of a change in the price of shelter?
Define a luxury good as a good for which the income elasticity of demand is greater than 1. Suppose that a consumer purchases only two goods.
On an optimal choice diagram (with budget lines and indifference curves), illustrate this pattern of consumption.
The demand function for widgets is given by D(P) = 16 - 2P. Compute the change in consumer surplus when the price of a widget increases from $1 to $3.
Illustrate graphically the change in consumer surplus when the price of x increases from $1 to $2. 5.
Calculate his income and substitution effects of a decrease in the price of food to $3. Calculate the compensating variation of the price change.
Derive the equation representing Carina's demand for food, and draw this demand curve for prices of food ranging between 1 and 6.
Karl's preferences over hamburgers and beer are described by utility function. Derive Karl's demand curve for beer as a function of the exogenous variables.
The appeal section should provide information about how the grant program matches the funder's interests or aligns with their funding priorities.
Analyze how monetary policy could influence the long-run behavior of price levels, inflation rates, costs, and other real or nominal variables.
How the country's policies influence its productivity growth? How the country's financial system is related to key macroeconomic variables.
The assignment is similar to last time: read the article and explain the social and economic significance of this article.
What is set of baskets Darrell may purchase if his behavior is consistent with utility maximization? What baskets might he purchase if Plan B is better for him?