Business, 14.10.2019 19:30 jadahilbun01
Aconsumer has utility function u(x, y) = min{x, y}. she has $150 and the price of x and the price of y are both 1. the consumer is thinking of accepting a job in a different town, in which the price of x is 1 and the price of y is 2. her income would remain the same. this consumer, who understands compensating and equivalent variation perfectly, is torn. while she is keen on the prospect of a move to the new town, which boasts a fine array of cultural activities for her family, she claims that, purely on the basis of her own preferences, having to move is as bad as a cut in pay of $x. she also claims she wouldn’t mind moving if when she moved she got a raise of $y. what are the quantities $x and $y equal to?
Answers: 2
Business, 22.06.2019 18:00
*will mark brainliest! * when a company spends resources (labor, money) to give customers "free" items, those costs are called a. investment costs b. economic costs c. scarcity costs d. opportunity costs answer asap!
Answers: 1
Business, 22.06.2019 23:30
What are consequences of rapid inflation? (select all that apply.) savings accounts become less desirable because interest earned is lower than inflation individual purchasing power increases, which results in an increase in demand. individual purchasing power decreases, which results in a decrease in demand. people postpone purchasing expensive items, such as homes, until prices drop.
Answers: 1
Business, 23.06.2019 07:50
Suppose for a consumer the marginal utility (mu) of bread is 20 utils and the mu of milk is 10 utils; the price of bread is $3 and the price of milk is $1. given this, a. more utility per dollar is gained from consuming bread than milk. b. more utility per dollar is gained from consuming milk than bread. c. the same amount of utility per dollar is gained from consuming milk as bread. d. the consumer is in consumer equilibrium.
Answers: 1
Aconsumer has utility function u(x, y) = min{x, y}. she has $150 and the price of x and the price of...
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