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Find consumption if income is $300 and APC is 0.43
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- Find APC if consumption is $300 and income is $3000DEFINE Limit of consumption optionsAn analyst for a major apparel company estimates that the demand for its raincoats is given by ln Qdx = 10 − 1.2 ln Px + 3 ln R − 2 ln Ay where R denotes the daily amount of rainfall and Ay represents the level of advertising on good Y. What would be the impact on demand of a 10 percent increase in the daily amount of rainfall? What would be the impact of a 10 percent reduction in the amount of advertising directed toward good Y? Can you think of a good that might be good Y in this example?
- If an individual saves $10,000 when his disposable income is $80,000. How much money does he consumes.If BC2 is the relevant budget constraint, then which of the following bundle(s) is(are) affordable? A. A. B. B. C. C. D. All of the above. E. None of the above.Assume you define your permanent income as the average of your income from this and the past four years. Your earnings record over these five years has been: Yt = 40,000, Yt-1 = 38,000, Yt-2 = 34,000, Yt-3 = 32,000, Yt-4 = 31,000. If your income increases next year to Yt+1 = 46,000, by how much will your consumption change if you always consume 90 percent of your permanent income?
- If BC2 is the relevant budget constraint, then the consumer will purchase bundle A. B. B. C. C. D. D. E. E. F.I need some help drawing the curve for p1+p2+p3Mr. Young purchases 100 units of GOOD X monthly given his monthly income of Php25000. When his income was raised by 20%, he now purchases 50 units. What kind of good is GOOD X? Show the necessary computation to support your answer.
- True or False: ( ) When TPL increasing MPL decreases and negative ( ) If indifference curve is a straight line, there is perfect substitution between good x, y and MRS = -1 ( ) AFC curve will never touch the ATC in the short-run because AVC will never = zero.Find the APC when consumption is said to be 192 and the income is 246Empirical evidence suggest that many consumers tend to spend all their disposable income immediately. This is irrational. A. True B. False
