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John likes pork Ribs (R) and Chicken wings (C). His utility function is U(R,C)=10\, R^2\, C
U(R,C)=10R2
C. His weekly income is 90
90 USD which he spends exclusively on R and C. The price for a slab of ribs is 10
10 USD and 5
5 USD for a piece chicken. Note that MU_R = 20\, R\, C
MUR
=20RC and MU_C = 10\, R^2
MUC
=10R2
. What is John's optimal bundle?
industry has 1000 competitive firms, each producing 50 tons of output. At the current market price of $10, half of the firms have a short-run supply curve with a slope of 1; the other half each have a short-run supply curve with slope 2. The short-run elasticity of market supply is
a) 3/10 b) 1/5 c) 2/5 d) none of the above
Using practical examples, outline how you could go about undertaking an econometric analysis. (8marks)
What are the costs and consequences of providing the subsidies and welfare
Suppose the market for rum can be described by the following equations: Demand: P = 10 – Q Supply: P = Q – 4 where P is the price in US dollars per unit and Q is the quantity in thousands of units. Then:
Find at least one ad for an IT position that specifically mentions e-commerce.
1. How should Mario allocate his Php 50 between his choices of eggs and sardines in order to attain the highest level of satisfaction?
What are the consequences of negative externalities on society
Given the demand function, P36 Q², and the supply function PS-30+ 8. Assuming pure competition, what is the consumers' surplus?
O a. 62.33
b. 32.33
C. 52.33
6.42.33
you operate balvinders best broccoli boutique in burnbay BC in a perfectly environment . You have the folleintbinformation. you want to decide how much you should produce, and what price you should charge. conplete the chart , and answer the question below. Use rwo decimals in you answers. Hint conplete you cost calculations first and review the lecture notes o the relationship of the MC curve to the AATC and AVC curves then to calculate your revenue values remember that this is a perfect copetition . hey plz snswer this question in very detail calculation so that i can understand how this answer come what os its formuls and answer with telling how you find the price i tried but i m not able to find price i know other how to gind but due to price i m not sble to solve this question
