Economics Answers

a) The utility function for a consumer utility is U=30Q11/2Q21/2 . If the price per unit of Q1 is Kshs 10 and Kshs 5per unit of Q2, determine quantities Q1 and Q2 that the consumer should have to maximize utility if the consumer budgeted Kshs 350

1. The management of XYZ Company provides you with comparative balance sheets of the years ended December 31, 2012 and 2011. Management asks you to prepare a horizontal analysis on the information.

As indicated in table above sales increased by 8.3% while net income decreased by 21.9%. You identified that there were increases in both cost of goods sold (14.3%) and operating expenses (2.1%). These increased costs more than offset the increase in sales, yielding an overall decrease in net income. You already identified the Couse of the problem. Therefore, what are the possible actions should be taken to eliminate the reduction of the net income?

In 2015, jim earnss $100, milk costs $2 per litre, and cookies cost $4 per dozen. Draw Jim's budget constraint.

In 2015, jim earnss $100, milk costs $2 per litre, and cookies cost $4 per dozen. Draw Jim's budget constraint.

Indicate whether you agree and disagree with the following statements. Note that you need to write the justification that support your response.

1. Monetary policy has an impact on output and price in monetarism school of thought

 Indicate whether you agree and disagree with the following statements. Note that you need to write the justification that support your response.

1.      Monetary policy has an impact on output and price in monetarism school of thought 

Four families decided to go watch a movie on a Friday evening.The Rahmans (R) have 7 family members, the Khans (K) have 4, Sarkars (S) 5,and the Hasans (H) 2.

They buy a movie-ticket for each member.During the intermission, R goes to the concession-stand and buys 0 large popcorns.K buys 1. S and the H buy 4 and 0 respectively. Once the movie ends, the families go to an ice-cream parlour nearby. R orders 4 scoops of ice-cream and 1 coffees. K orders 3 scoops of ice-cream and 3 coffees. S orders 1 scoops of ice-cream and 1 coffees. H orders 0 scoops of ice-creams and 2 coffees.At the end of the night, the total expenditure of the families are as follows: The Rahmans have spent Tk. 6491; the Khans have spent Tk. 4565; the Sarkars have spent Tk. 4807; and the Hasans have spent Tk. 1706.Using the information above, convert the Friday night expenditures of the four families into a system of linear equations. Convert this system of equations into the matrix form.

What is the determinant of the coefficient matrix?

Arrange the times in each question from the shortest to the longest period of time

A) 78 hours; 4 days; half a week

Using appropriate graph show how the demand curve is derived from utility maximization