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a) If Maria’s utility function is U = A Xayb what is his marginal utility functions for X and Y? Find the MRS between x and y.
Puan Siti Lela is a Malaysian and plans to visit Paris or New York to buy a Louis
Vuitton (LV) bag that cost uro $30,000 in Paris and USD28,000 in New York.
Assuming no cost in transfers or transportation. Which is a cheaper destination for
Puan Siti Lela to buy her LV handbag by showing your conversion calculation? How
many uros or USD does Puan Siti Lela need to pay for the LV handbag?
Vuitton (LV) bag that cost uro $30,000 in Paris and USD28,000 in New York.
Assuming no cost in transfers or transportation. Which is a cheaper destination for
Puan Siti Lela to buy her LV handbag by showing your conversion calculation? How
many uros or USD does Puan Siti Lela need to pay for the LV handbag?
What is the effect of a lump-sum tax (which is like an additional
fixed cost) on a monopoly? (Hint: Consider the possibility that the firm may shut down)
fixed cost) on a monopoly? (Hint: Consider the possibility that the firm may shut down)
Indicated which two instruments are used by government to influence the spending within the South Africa economy, use examples to explain how each instrument is used.?
Suppose you borrow Rs.800000 in student loan @8% p.a. interest rate in 2019 :- (i) How much will you owe after 10 years of accumulating debt ? (ii) If inflation is 6% per year over this period, how much will you owe after 10 years in real 2019 Rupees ? (iii) Who is the loser in this scenario, you or the Bank ?
does load shedding affect demand or supply side?
which markets are affected by load shedding
which markets are affected by load shedding
what market structure does nike,addidas and fila operate
If TC = 150 + 2Q + 0.01Q^0.5
Find marginal and average cost at 50 units input
Find marginal and average cost at 50 units input
The following is a demand schedule for cheeseburgers for an individual.
PRICE OF
CHEESEBURGERS QUANTITY DEMANDED
5.00 0
4.50 1
4.00 2
3.50 3
3.00 4
2.50 5
2.00 6
1.50 7
1.00 8
0.50 9
a. Plot the demand curve for cheeseburgers, with price on the Y-axis, and quantity
demanded per week on the X-axis.
b. Assume the individual has a fixed budget of £24 per week to spend on burgers,
and the current price of cheeseburgers and chicken burgers is £3.00, and that a
consumer buys 4 of each type of burger. Now assume that the price of
cheeseburgers falls to £2. Using the concept of the ‘income’ and ‘substitution’
effect, explain why the demand for cheeseburgers rises to 6.
c. Assuming chicken and cheeseburgers are perfect substitutes, and income is fixed
at £24, what is likely to happen to the demand for chicken burgers (to the
nearest burger) if the price of cheeseburgers rises to £4.00?
PRICE OF
CHEESEBURGERS QUANTITY DEMANDED
5.00 0
4.50 1
4.00 2
3.50 3
3.00 4
2.50 5
2.00 6
1.50 7
1.00 8
0.50 9
a. Plot the demand curve for cheeseburgers, with price on the Y-axis, and quantity
demanded per week on the X-axis.
b. Assume the individual has a fixed budget of £24 per week to spend on burgers,
and the current price of cheeseburgers and chicken burgers is £3.00, and that a
consumer buys 4 of each type of burger. Now assume that the price of
cheeseburgers falls to £2. Using the concept of the ‘income’ and ‘substitution’
effect, explain why the demand for cheeseburgers rises to 6.
c. Assuming chicken and cheeseburgers are perfect substitutes, and income is fixed
at £24, what is likely to happen to the demand for chicken burgers (to the
nearest burger) if the price of cheeseburgers rises to £4.00?
On a production possibilities frontier (PPF) Increasing opportunity cost
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#340153 on Dec 2023
#340153 on Dec 2023