Economics Answers

If your preferences is represented by the utility function U=min[2C, F] where F is her food consumption and C her clothing consumption, and if the price of food (Pf) were 1, and her income was 100, what would be the compensating variation (CV) to a fall in the price of clothing (Pc) from 2 to 1?

if mpc is 0.2 and investment increase by 200000000 what is increase income

The engineering team just signed a lease contract for equipment for a period of 5 years and the equipment has a useful life of 6 years. The monthly lease payment is $100 each month, the value of the equipment is $7,000 new with $0 salvage value. At the end of the first month, what journal entries should be recorded to account for this under ASPE?

C: 360+0.8Yd. I: 640-6r. T:100. G: 160

Drive IS curve

Suppose that the market demand for facial mud packs are given as follows: P = 2,200 – Q.

Mud packs can be produced at no cost. Determine the level of output that would be produced by each firm in a Cournot duopoly in the long run. Calculate the price charged for mud packs. Show all calculations.

numerical difference between rate of change and the level of change

Suppose that a consumer consumes only two products namely Beer and

Hamburgers. The price of Beer is R40 and the price of Hamburgers R120. The

consumer receives a monthly income of R1200.

8.1. Based on the information regarding the price of the two products

consumed by and the monthly income of the consumer, graphically

illustrate the consumers budget line. Let Beer be on the Y-axis and

Hamburgers on the X-axis. Marks will be allocated for the calculated value

of the points of intersection. (4)

8.2. Illustrate by aid of a graph how the budget line will If the price of

Hamburgers decreases from R120 to R100.