consider the following utility function uxy min
Consider the following utility function: U(x,y) = min {3x, x+y, 2y}. sketch the indifference curves and show where the "corners" are. If the prices or x and y are P_x = 5 and P_y = 1, respectively
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above you see three indifference curves and a budget linenbsp answer the following questionsanbsp if this consumers budget or income is 600 what is
question 1a during a five year period the ticket prices of a city professional soccer club have increased by 30 while at the same time average ticket
consider the utility function ux y -8x -8y find and expression for the marginal rate of substitution mrsxy at any point x y suppose x 3 and y 2
in the case of consumer durables we find that when the product is introduced the prices are high but over time the prices reduce what is the pricing
consider the following utility function uxy min 3x xy 2y sketch the indifference curves and show where the corners are if the prices or x and y are
estimating the demand for money and plotting a demand curve for that estimation based on the equation m1ab1interestb2time where a is the intercept
1 in section iv of akerlof 1970 the author discusses several examples of ways that the seller counteracts the effects of quality uncertainty can you
assume a perfectly competitive firm is currently producing 5000 units of output and is earning 15000 in total revenue the marginal cost of the 5000th
the australian government recently announced its proposed carbon price mechanism the operation of this scheme is likely to raise the cost of
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