Suppose there is news that indicates that gasoline supplies might suddenly become disrupted by a truckers’ union strike. What would you expect would happen to the demand for gasoline in the present? How might consumers change their behavior and why? What impact would this news have on the price of gasoline immediately? Would it matter whether the news story was accurate?
rachel works as a carpenter and earns 22 per hour . she has a dentist appointment which wii take 3 hours . she must take a taxi for 15 each way to and from the appointment , and the dentist charge 120 for the chekup . calculate the opportunity cost for rachel to go the dentist . in your answer , define opportunity cost ?
a consumer utility function
is u=√EF. Find the marshalian demand function
for E and F, find the compensated demand
function. now let the budget be m=100. prices
are 1,1. what are the demand quantities? what
is the utility level? Let the price of F rise to 2.
what are the demand quantities? what is the
utility level. What is the income compensation
necessary to put the consumer back to his
original utility level after the price change?.
Assume the utility function is u= lnE + lnF. How
does this new utility function change your
results from the beginning?
The Accounting principle of Consistency require a company to use the same rate of depreciation for all of its assets. is it true or false? please explain with justification