Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Economics Expert

Economic Theory on Utility

1- Suppose a person has $8 to spend only on apples and bananas. Apples cost $.40 each, and bananas cost $.10 each.

a- If this person buys only apples, how many can be bought?

b- If this person buys only bananas, how many can be bought?

c- If the person were to buy 10 apples, how many bananas could be bought with the funds left over?

d- If the person consumes one less apple (that is, nine) how many more bananas could be bought? Is this rate of trade-off the same no matter how many apples are relinquished?

e- prepare down the algebraic equation for this person's budget constraint, and graph it showing the points mentioned in parts a through d

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M927969

Have any Question? 


Related Questions in Business Economics

Recommended a healthcare reform policy alternative to

Recommended a healthcare reform policy alternative to positively impact insurance coverage and financing the delivery of healthcare in this country. (400 words) Cite appropriate reference.

Yoursquove recently learned that the company where you work

You’ve recently learned that the company where you work is being sold for $435,000. The company’s income statement indicates current profits of $23,000, which have yet to be paid out as dividends. Assuming the company wi ...

Growth accounting a countryrsquos labor force grows 12

Growth accounting. A country’s labor force grows 1.2 percent and its capital stock grows 3 percent. Assume that labor share of output is 0.25 and capital share of output is 0.75. If the economy grows 4.55 percent, how mu ...

Which one of the following statements is not correcta there

Which one of the following statements is NOT correct? A. There exist games with multiple Nash equilibria B. All Nash equilibria are based on dominant strategies C. No player wants to deviate from a Nash equilibrium D. A ...

Applying saint leorsquos core values to your analysis

Applying Saint Leo’s Core Values to your analysis, describe what GDP measures and some of the limitations of GDP. What is the relationship between economic well-being and social well-being (i.e. happiness)? Can economic ...

Leadership research essayfor this assignment you are

Leadership Research Essay For this assignment, you are required to write a Leadership Research Essay. Requirement: Using the terms, concepts, and theories learned in this course, write a 5 to 7 page (Times New Roman 12 f ...

Blaxo balloons manufactures and distributes birthday

Blaxo Balloons manufactures and distributes birthday balloons. At the beginning of the year? Blazo's common stock was selling for ?$17.95 but by year end it was only ?$15.28. If the firm paid a total cash dividend of $ 1 ...

A rms production process uses labor l and capital k and

A ?rms production process uses labor, L, and capital, K, and materials, M, to produce an output, Q according to the function Q = KLM, where the marginal products of the three inputs are MPL = KM,MPK = LM, and MPM = KL. T ...

1 identify two federal government programs that you would

1. Identify two federal government programs that you would definitely change. Explain why and how you would change them. What would be the marginal benefits and marginal costs of each changed policy TO YOU? What would be ...

You are an assistant to a senator who chairs an ad hoc

You are an assistant to a senator who chairs an ad hoc committee on reforming taxes on telecommunication services. Based on your research, AT&T has spent over $15 million on related paperwork and compliance costs. Moreov ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate