Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Economics Expert

Graphing daily budget constraint also calculating monthly reservations wage.

1. Suppose which yi receives $ 60 per day as interest on inheritance also her wage is $25 per hour also she can work a maximum of 16 hours per day at her job. Draw her daily budget constraint.

2. Suppose which a new bridge opens in the east bay also min's daily commute is reduced by one hour. if Min can chose describe how many hours she works per week also if both leisure also income are normal goods, then Illustrate what is the effect of the shorter commute on Min's work time?

3. Suppose which Mari was injured in an accident also after the lawsuit she gets paid $3,000 per month. if her utility function is U(C,L)=C*L also if she gets paid the settlement whether or not she works, then Illustrate what is her monthly reservations wage? Suppose which she can take at most 720 hours of leisure per month.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M916642

Have any Question? 


Related Questions in Business Economics

We are deeply indebted to the young men and women in the

We are deeply indebted to the young men and women in the military who choose to serve and risk their lives for their country. All of us benefit from their sacrifices. Now, the question is: what motivates and incentivizes ...

Sarah has a saving account with a 1000 balance that earns 3

Sarah has a saving account with a $1,000 balance that earns 3% APY. She decides to withdraw the entire balance to buy a laptop computer. What will be her opportunity cost in buying the laptop? a. the cost of the laptop b ...

Helen has a utility function given byux05y05 2 where x is

Helen has a utility function given byU=[x^0.5+y^0.5 ]^2, where x is the amount of product X consumed per month and y is the amount of product Y consumed per month. The government has instituted rationing. Everyone receiv ...

The demand for beer in japan is given by the following

The demand for beer in Japan is given by the following equation: Qd= 500 - 2P - PN + 0.1I Where P is the price of beer, PN is the price of nuts, and I is average consumer income. a) What happens to the demand for beer wh ...

Suppose current market federal funds rate is 0 percent the

Suppose current market federal funds rate is 0 percent. The interest rate on long term government bonds is 5 percent and risk premium for this bonds is 2 percent. Assume liquidity premium hypothesis and expectations hold ...

Consider the statement monopoly power comes from market

Consider the statement, "Monopoly power comes from market acceptance, not from a patent, a prettier product, a slick advertising campaign, or anything else. So rather than spend your time in court, you should be out ther ...

In the united states say gasoline costs consumers about 250

In the United States, say gasoline costs consumers about $2.50 per gallon. In Italy, say it costs consumers about $6 per gallon. What effect does this price differential likely have on miles driven in the United States c ...

Suppose that there is asymmetric information in the market

Suppose that there is asymmetric information in the market for used cars. Sellers know the quality of the car that they are ?selling but buyers do not. Buyers know that there is a 5050?% chance of getting a? "lemon", a l ...

In your opinion does the equal pay act go far enough in

In your opinion, does the Equal Pay Act go far enough in prohibiting pay discrimination? Why, or why not? Should the proposed amendments to the EPA found in the Fair Pay Act be enacted? Why, or why not?

Given the following information calculate the over-target

Given the following information, calculate the over-target share ratio: Optimistic Cost Estimate: $800,000 Optimistic Profit: $200,000 Target Cost Estimate: $1,000,000 Target Profit: $150,000 Pessimistic Cost Estimate: $ ...

  • 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