Illustrate what are the assumptions being made about jackie, Ask an Expert

Economics

Q1. Illustrate what are the assumptions being made about Jackie by her colleagues also managers?

Q2. Microeconomics Theorem.

Sarah has a monthly income of 200 dollars that she spends buying food that costs $5, clothes that cost $60 also books that cost $20. Sarah's utility function is given by:

U(F,C,B) = 2ln(f) + 4ln(c) + ln(B)

A) compute the marginal rate of substitution of food for clothing also the MRS of clothing for food.

B) Illustrate what is the relationship between the 2 values?

C) Is F=20, C=1 also B=2 also optimal allocation? Explain

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9171031

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