explain the cunsumer equilibrium condition according to utility theory. include in your answer the provision of it formula.

Q: Compare between the following two (Before and After Tax cash flow) machines using Machine (A)…

A: Given that; (a) Calculation of internal rate of return The formula used to calculate IRR is:…

Q: Which term is used to describe the net value of one's accumulated assets? O a) income O b) capital…

A: Accumulated assets or asset accumulation is building wealth over time by earning, saving and…

Q: Trevon is skeptical that DSGE models, and the RBC model upon which they are based, will be able to…

A: Modern macroeconomic theory is used in Dynamic Stochastic General Equilibrium (DSGE) models to…

Q: What plan that suggest alternative steps when faced with issues or failure?

A: An activity plan is composed with the goal that any representative can do the assignment effectively…

Q: Unemployment rises and real gross domestic product (GDP) growth slows during the business cycle. O…

A: There are six phases of a business cycle: 1. Expansion - In this phase, the positive indicators…

Q: 2. Consider the production function, f (z1, z2) = z} z . (a) Solve the PMP for factor demands z (p,…

A: To find the profit maximizing problem . We need to first find profit and then take  partial…

Q: Can the banks make easy profits because the money multiplies? How? Is it fair and efficient? Is the…

A:

Q: A sub-game perfect Nash equilibrium is defined as O A) a set of strategies that are a Nash…

A: Static game where players moves simultaneously. Dynamic game where players moves sequentially.

Q: Composition Consumption Billion of Dollars 4900 Investment 1300 Government expenditures Exports…

A: Gross domestic product (GDP) is the market value of final goods and services produced by an economy…

Q: A man borrowed from a bank under a promissory note that he signed in the amount of P60,000 for a…

A: Here the values given are as follows:- Amount Applied = 60000 Amount Received = 50150 Other fees =…

Q: Firm Boperates in a perfectly competitive market. What is the profit maximizing price? O a) $11 O b)…

A: Firms in perfect competition are price takers meaning they accept the market price as given.

Q: How much corruption do they think there is?

A: Corruption:- It is a phenomenon in which the person uses assigned powers for personal gains.

Q: Budget constraints provide a visual image the represents what a person can afford, given the price…

A: All individuals in the economy can purchase goods and services by the means of income that the earn…

Q: Consider a competitive industry. Every firm in this industry has a total cost function C (y) = y² +…

A: C(y) = y2 + 1 MC = 2y and, D(p) = 36 - 2y TR = p x y       = (36 - 2y)y       = 36y - 2y2 MR = 36 -…

Q: 4. Show that in a two-person zero-sum game min max h(i, y) > max mịn h(i, j)

A: Two per son zero sum game is a one of the game type in which one players gain is the loss for the…

Q: 2.    A small-scale manufacturer can sell q number of units of each product produced per week at a…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: For demand function Qd = a - bP and supply function Qs = dP - c , using Cramer’s rule determine…

A: At equilibrium, demand function (Qd) = supply function (Qs) Let say, (Qd) = (Qs) = Q Q = a - bP Q +…

Q: Consider a market with a linear relatively Inelastic demand curve and a relatively Elastic linear…

A: disclaimer :- as you posted multipart questions we are supposed to solve the first 3 questions only…

Q: Demand in a domestic market is represented by the curve P = 200 Q. Supply is represented by P = 20 +…

A: A country becomes an exporter when quantity supplied exceeds quantity demanded and becomes importer…

Q: Consumers are fully aware of their preferences All consumers have the same preferences Consumers…

A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…

Q: Describe the ways the various components of GDP were impacted by the pandemic? Plz do fast asap.

A: GDP refers to the total production of goods and services in an economy during a year. Components of…

Q: If the price of the product is GH¢2.00 and cost per unit of labour is GH¢10.00, Complete the table…

A: The labor cost per unit is obtained by multiplying the direct labor hourly rate by the time required…

Q: Please choose the answer that best completes this sentence. The higher the discount rate, should be…

A: A nonrenewable resource is a natural resource that does not regenerate itself at the same rate as it…

Q: A machine having a first cost of P60,000.00 will be retired at the end of 8 years. Depreciation cost…

A: Depreciation is a term used in economics to describe how much value an asset loses as a consequence…

Q: Is population’s growth a good thing or bad thing and why?

A: Population Growth refers to increase in the count of people living on the Earth.

Q: Explain the term Trade Cycle

A: The first stage of Business Cycle refers to expansion in which there is increase in the economic…

Q: Why is the strait of Hormuz important to Iran and how do they use the strait of hormuz?"

A: Answer- The location of  strait of Hormuz in between Iran and Oman. This place is the most eminent…

Q: Uz Uz U4 Us 20 28 42 60 Income Currently the consumer has $60. If there is an accident their income…

A: Given a discrete random variable, and a function of that variable, the expected value of that random…

Q: Assume the vitamin industry is perfectly competitive. When a new medical study shows that taking…

A: The perfectly competitive market exists where the many firms are there in the market and each firm…

Q: 40 -20 52.29 66 8 30 -40 55.75 80 9. 20 -60 60.67 100 10 10 -80 67.60 130 E. Refer to the data for a…

A: Average total cost (ATC) is calculated by dividing total cost by the total quantity produced. The…

Q: An actuarially fair premium is set equal to the insurer's expected payout, assuming no admin-…

A: Due to asymmetrical information market failure can be arises as both parties do not have the same…

Q: Keynesian economists believe government intervention in the economy is necessary because a) supply…

A: Keynesians accept that buyer demand is the essential main impetus in an economy. Accordingly, the…

Q: [16] Operating in the short run with one fixed input and one variable input, the marginal product of…

A: Since you have posted multiple questions, as per the guidelines we can solve only one question per…

Q: Question 43 Over the last 50 yearn, interent rates have risen before each recession and have fallen…

A: Note:- Since we can only answer one question at a time, we'll answer the first one. Please repost…

Q: A company uses a type of truck which costs P2M, with life of 3 years and a final salvage value of…

A: AC1 = Annual cost of old motortruck, and AC2 = Cost of new motortruck We know that, AC1 = (C1)i +…

Q: B) In a closed economy, the functions for consumption, investment, government expenditure and…

A: (i) Aggregate expenditure in closed economy is the sum of consumption, investment, government…

Q: explain how, using elasticity as the basis for your answer, it can be determined whether two goods,…

A: Elasticity is used to compute the relationship between mean two components, it determines the change…

Q: Consider the following data for country A: Population (millions) Real GDP ($ billions) Country A 11…

A: GDP is the value of final goods and services produced in the economy within a given period of time

Q: A perfectly compettive firm is currently selling its product at $20 each. It estimates that its…

A: Given; Price of the product= $20 each Average total cost of production= $100 Average fixed cost of…

Q: A decrease in proportional consumption tax makes the budget constraint A. flatter…

A: Budget constraint is combination of consumption which someone can afford with given prices and…

Q: [Mcdonald's, a big burger joint, is charging $5 for its very famous Big Mac hamburger and selling…

A: Price elasticity of demand is the ratio of the percentage change in quantity demanded of a product…

Q: A club good is

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Q: There is a road between the suburbs and downtown. The road is congested at rush hour. If 172 people…

A: (4) The information given is as follows:- Time taken for the trip is given to be 38 minutes   Value…

Q: The table below shows the costs of a firm that produces handmade pottery vases in a competitive…

A: Competitive market: - it is a market condition where there are many buyers and many sellers in the…

Q: thority of the Fêderal Reserve? The Federal Reserve is required by the constitution. The Federal…

A: The Federal Reserve System, is the national bank of the US and apparently the most impressive…

Q: Units of Labor| Total Output per Price of Good Day 10 $14 14 13 4 19 12 5 23 11 27 10 7 31 A firm's…

A: Units of labour Total Output per day Price TR MR 2 10 14 140 - 3 14 13 182 42 4 19 12 228 46…

Q: What happens to aggregate demand (AD) if the price level rises? O a) The quantity of AD increases. O…

A: Aggregate demand refers demand of all the goods and services by the consumers in the society at…

Q: Yearly demand for water by residents and businesses in the city of Black Bear Lake is equal to…

A: According to the question, Yearly demand of water : QD = 2000 - 10P where QD is millions of…

Q: Suppose that next year 150,000 existing jobs in the economy are eliminated through layoffs and plant…

A: Given information: 150,000 existing jobs in the economy are eliminated through layoffs and plant…

Q: This Edgeworth box shows individuals Jo and Sal. Point c is a possible equilibrium for the two…

A: A typical instrument for overall equilibrium analysis is the Edgeworth box which takes into…