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Let us assume two goods, skis and bindings, that are perfect complements. That is one-for-one complements. Maureen spends all her equipment budget of US$1,200 per year on these two goods. Skis and bindings each cost US$ 200 per pair. What will be the income and substitution effects of an increase in the price of bindings to US$ per pair?
- What are emerging policy issues regarding disabilities with housing and transportation?
- What is the purpose of Office of Disability Employment Policy (ODEP) and the Disabilities Education Act?
1.What is the American with Disability Act(ADA)?
What policies are associated with ADA?
How does it impact employers and employees?
Are there new policies since the inception of ADA?
4. If an individual’s preferences are described by the utility function U(X1 , X2 ) = X12 + X22,
a) graph the indifference curve for U = 20 and U= 40.
b) Find the optimal consumption quantities if P1 = US$2.50 ; P2 = US$ 7.50; and M = US$ 60.
Production at Point A - 0 Tubas & 25 dishwashers
Production at Point B - 30 Tubas & 20 dishwashers
Production at Point C - 50 Tubas & 10 dishwashers
Production at Point D - 60 Tubas & 0 dishwashers
Production at Point E - 40 Tubas & 20 dishwashers
Production at Point F - 30 Tubas & 10 dishwashers
Using the production possibilities frontier above:
Explain what would happen to the production possibilities frontier if there were a technological breakthrough in producing tubas.
If an individual’s preferences are described by the utility function U(X1 , X2 ) = X12 + X22,
graph the indifference curve for U = 20 and U= 40.
Find the optimal consumption quantities if P1 = US$2.50 ; P2 = US$ 7.50; and M = US$ 60.
If an individual’s preferences are described by the utility function U(X1 , X2 ) = X12 + X22, graph the indifference curve for U = 20 and U= 40.Find the optimal consumption quantities if P1 = US$2.50 ; P2 = US$ 7.50; and M = US$ 60.
Let us assume two goods, skis and bindings, that are perfect complements. That is one-for-one complements. Maureen spends all her equipment budget of US$1,200 per year on these two goods. Skis and bindings each cost US$ 200 per pair. What will be the income and substitution effects of an increase in the price of bindings to US$ per pair?
Discuss how you would expect a ban on liquor advertising to affect the profitability of:
- existing high market share liquor brands. (3)
- existing low market share; and (3)
- potential new entry of brands. (3)
Discuss some other products that sustains product differentiation through substantial advertising and promotion expenditures.
2.1 Differentiate between the main types of advertising and clearly indicate which one of the two types is commonly used within the liquor industry. Motivate your answer. (6)
2.2 How might advertising by a particular company affect that firm's sales and liquor demand overall?
