Economics Answers

I. U=(x y)=x^(1/3)y^(2/3) that subjected to budget constant 6x+3y=720 then find
1. MUx,
2. MUy,
3. MRSx,y
4.write equilibrium optimum condition.
II. Assume u function of a consumers is u=x^(2) + y^(2) then, Required.
1. MRSy,x
III. a consumers u function give as u=x^(4). y^(-2)
1. MUx,
2. MUy,
3. MRSx,y

''What is meant by the “natural rate of unemployment”? Using diagrams show what happens to the natural rate of unemployment if there is an increase in firms’ price mark up. What is the effect on the supply function?''
in the question above I'm confused about what is meant by ''What is the effect on the supply function'' i tried to solve it assuming that supply function is the aggregate supply. Markup increases then wage decrease so AS shifts right because workers are willing to accept any salary. Is my answer right?

how producer surplus is made in a long run competitive market even if the producer is not making any profit ?

Are the following statement true, false or uncertain. Explain briefly.

a. If a firm is a price taker, its marginal revenue is equal to market price.
b. If a firm's marginal revenue is below its marginal cost, an increase in production will usually decrease profits.
c. If the price of an input falls, a firm would increase the use of that input for two reasons: Overall production costs are now lower and the firm can substitute this input for other relatively more expensive inputs.

for the inverse demand function curve P=60-0.5Q. find the elasticity at p=10

i need your Assistance
I was ask to give Five reason why economics is considered as science and social science subject

The substitution effect can be defined as:
A.
the change in consumption that results from a change in the relative price of goods.
B.
the change in consumption that results from increased effective wealth due to lower prices.
C.
the change in consumption that results from increased effective wealth due to getting a raise.
D.
the change in income that results from increased effective consumption due to lower prices

A budget constraint:
A.
is the same across all individuals with the same income constraints.
B.
is different for each individual with the same income constraints.
C.
is the same across all individuals with the same tastes and preferences.
D.
is different for each individual with the same tastes and preferences.

When the price of one good changes, and all others stay the same:
A.
the change in relative prices is reflected in a change in the slope of the budget constraint.
B.
the change in relative prices can be thought of as a change in the opportunity costs of each good.
C.
the change in relative prices is reflected in a change in the marginal utility per dollar spent on each good.
D.
All of these statements are true.

true or false
CPI is known for including the introduction of new and improved products