Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Economics


Home >> Microeconomics

Given the following table
MUx MUx/Px Qty MUy MUy/Py
80 40 1 68 17
52 26 2 32 8
20 10 3 28 7
16 8 4 24 6
8 4 5 20 5
a)Determine the price of product x and y.
b)What is the total utility attained by the individual from consuming products x and y in equilibrium?
c)How much should the individual have at the equilibrium point?
d) If the price of product y decreases by 1 pound, derive the new consumption equilibrium point.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9503400

Have any Question?


Related Questions in Microeconomics

Question the local supermarket offers melons for 1 a pound

Question: The local supermarket offers melons for $1 a pound, but the farmer who grows it receives only 20 cents. The remainder goes for the costs of transport and retailing. Under what circumstances would the farmer pre ...

Question melinda gibbs would like for her descendants to be

Question: Melinda Gibbs would like for her descendants to be able draw $40,000 every year for ever starting 30 years from now. She has found a mutual fund that will provide her a guaranteed 10% return forever. She will m ...

Question - under the principle of insurance the

Question - Under the principle of insurance, the compensation that is provided is for the losses resulted from the risk existed previously. In some circumstances, for example natural disaster, not all losses could be cla ...

Question 1 who is making bad decisions2 does the decision

Question: 1. Who is making bad decisions? 2. Does the decision maker have enough information to make a good decision? 3. The incentive to do so? The three step process is used to evaluate and analyze the decision. The fi ...

Question in country b the population is 900 million and 100

Question: In country B, the population is 900 million and 100 million people are living below the poverty line. What is the poverty rate? The response must be typed, single spaced, must be in times new roman font (size 1 ...

Question whats the taxable equivalent yield on a municipal

Question: What's the taxable equivalent yield on a municipal bond with a yield to maturity of 7.00 percent for an investor in the 33 percent marginal tax bracket? (Round your answer to 2 decimal places.) The response mus ...

Question labor markets are matching markets in which

Question: Labor markets are "matching markets," in which prospective employees are ultimately matched with job vacancies, and the quality of the match has a large impact on its productivity. a. Economists and sociologist ...

Question imagine that 50-year-old men can be divided into

Question: Imagine that 50-year-old men can be divided into two groups: those who have a family history of cancer and those who do not. For the purposes of this example, say that 20% of a group of 1,000 men have a family ...

Suppose that a worker in freedom can produce either 6 units

Suppose that a worker in Freedom can produce either 6 units of corn or 2 units of wheat per year, and a worker in Liberty can produce either 2 units of corn or 6 units of wheat per year. Each nation has 10 workers. For m ...

Question evaluate the causes of sudden stop and currency

Question: Evaluate the causes of Sudden Stop and Currency Crises as outlined in the lecture and by Claessens and Kose alongside the Walter/Steinberg reading on external adjustment and imbalances. Using a political econom ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved