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Kembang has 6 bags of sweet potato and 18 bagels. Tam Tam, on the other
hand, has 16 bags of sweet potato and 8 bagels. Kembang’s marginal rate of
substitution (MRS) of potatoes for bagels is 6 and Tam Tam’s MRS is equal
to 4. Draw an Edgeworth box diagram to show whether this allocation of
resources is efficient. Justify your answer with an economic suggestion.
Please give full explaination especially regarding the efficiency of the resources. thank you!
Assume there is a well known terrorist group with strong ties to a government that is not friendly to the United States. The terrorist group has agents within the United States. The intelligence community is monitoring the activities and communications of those agents. U.S.government officials learn that the group is planning to use large quantities of small, autonomous drones aircraft in a swarming attack to try to damage a nuclear power plant near the U.S.-Canada border. Is this a matter of National security, homeland security or both? Does it matter what label this situation is given? Is the U. S. Security policy sufficiently well developed in order to allow government agencies to respond to the threat? In what ways could the policy be improved? What are the main constitutional and legal principles governing how U.S. government agencies can react in this situation? Other than security policy, what other National policies are implicated by this situation and joe. Be specific.
What are the advantages of not publicly disclosing a security strategy or of withholding portions of a strategy due to the classified nature of the information? What are the disadvantages?
Indentify three factors that are likely to affect the price elasticity of supply for rice.
The economy's current rate of interest is 10 percent and a firm has NS1000 of owner invested capital is total revenue is NISS000 and the firm's explicit costs are NES3500 . From this we know that this fe's accounting profit is NIS11.500 .
There are 10,000 identical individuals in the market for commodity X, each with a demand
function Q = 12—2P, where Q is the quantity of X demanded, and P is the price of X, and 1,000
identical producers of commodity X, each with a supply function given by Q=20P, where Qis —
Quantity of X supplied, and P is the price of X.
A. What happens if, starting from the position of equilibrium, the government imposes 2
price ceiling of Rs.2/-on commodity X?
1. Should a producer, facing a negatively sloped demand curve for the commodity sold, operate in:
the inelastic range of the demand curve?
2. If the market demand for agricultural commodities is price inelastic, would a bad harvest
an increase or a decrease in the incomes of farmers (as. a group)?
Find the price elasticity of demand for the demand curve Q= ap-b?
3. The price elasticity of demand for a demand curve is the same for every level of p
of the demand curve would be Q=aP-b where a and b are the parameters of the curve?
There are 10,000 identical individuals in the market for commodity X, each with a demand
function Q = 12—2P, where Q is the quantity of X demanded and P is the price of X, and 1,000
identical producers of commodity X, each with a supply function given by Q=20P, where Qis —
quantity of X supplied and P is the price of X.
a. Find the market demand and market supply function for commodity X.
b. Obtain the equilibrium price and equilibrium commodity of X.
c. Calculate the own-price elasticity function (in terms of price) for both the market
demand curve and the market supply curve. Using these functions, calculate the
own-price elasticity of demand and supply at the point of equilibrium.
d. Calculate the consumer surplus and the producer surplus at equilibrium?
e. What happens if, starting from the position of equilibrium, the government imposes 2
price floor of Rs.4/- on commodity X?
Suppose the demand and supply are given by Q=500 - 2P and Q =100 - 3P
A. Which function is demand function and why.
B. Computer the equilibrium price and quantity.
C. Compute the consumer surplus and producer surplus.
D. Suppose a 1 Ghana cedis exercise tax is imposed on the good. Determine the new equilibrium price and quantity
E. Compute the tax revenue to the government
F. Compute the deadweight loss resulting from the tax
With the aid of a diagram analyze the income, substitution and told effects of a price change on the following types of goods
A. Normal good
B. Inferior good
c.giffen good
David's utility function for good X and Y is given by U (X,Y) =X2y3. Where px,py and I are the price of good X, price of good Y and consumer income respectively.
A. Write the budget constraint of the consumer
B. Derive the demand function for good X and Y
C. What combination of X and Y maximizes the consumer at I=100,px=4,and py=5
D. Calculate the marginal rate of substitution between X and Y at equilibrium and interpret your results.
E. Suppose david faces a new utility such as U(X, Y)=25x0.2 Y0.75 for consuming commodity X and Y, redo question b and c.
F. Suppose david faces another new utility function such as U (X, Y) =15xy2 for consuming commodity X and Y,redo question b and c
,C. What combination of X and Y maximizes the consumer at I=100
