Find marginal utility MU for a consumer consuming x amount of a given commodity, where his total utility function is TU = x²ln (x² + 1).

Q: Suppose that an incumbent can commit to producing a large quantity of output before the potential…

A: As the game tree shows, the incumbent firm enjoys a first-mover advantage. By moving first, the…

Q: Consider a remote town in which two restaurants, All-You-Can-Eat Café and GoodGrub Diner, operate in…

A: From the information given we complete the table:   Clean Up Does not Clean up Clean Up…

Q: 4. Opportunity cost and production possibilities Cho is a skilled toy maker who is able to produce…

A: Meaning of Opportunity Cost: The term opportunity cost refers to the situation under which the…

Q: U.S. real GDP is substantiality higher today than it was 60 years ago. What does this tell us, and…

A: Real gross domestic product is an inflation-changed measure that mirrors the worth of generally…

Q: Discuss the similarities and differences between monetary policy and fiscal policy as a tool to…

A: The monetary policies are those policies which are enacted by the central bank of a country to…

Q: b) will make you better off if your nominal wages fall more slowly than prices.

A: Deflation means decrease in overall average price level and inflation will be below at zero percent…

Q: Most of the interest on the Fed's assets is: A used to maintain the buildings and grounds of the 12…

A: The Fed's assets comprise fundamentally U.S. Depository notes and bonds and mortgage-backed…

Q: What is the primary difference between a monopsonist and a firm which operates in a perfectly…

A: "Monopsony labor market occurs when there is only one employer in a labor market."

Q: Period 1 3 4 5 Gross Requirements 50 50 50 50 50 50 Scheduled Receipts On Hand Inventory 75 Planned…

A: The correct answer is given in the second step.

Q: Explain what is meant by market failure and   outline the sources of market failure.

A: Market failures can be corrected by allowing competitive producers in the market and consumers as…

Q: The YTM on Apple bond is 3%. The tax rate is 21%. What is the after-tax cost of debt? Select one: a.…

A: Answer; Option C is right answer.

Q: Question 15 Suppose the government decides to increase taxes by $30 billion to increase unemployment…

A: The correct answer is given in the second step.

Q: a. When transaction costs are low enough, efficient resource allocation will follow regardless of…

A: First it is critical to comprehend the importance of "Exchange Cost". In this way, the transation…

Q: Consider the production possibilities frontier (PPF) shown in the graph below to answer the next…

A: Production possibilities frontier shows different combinations of two goods that can be produced…

Q: For a Saturday matinee, adult tickets cost $7.50 and kids under 12 pay only $5.00. If 110 tickets…

A: Expenditure on the good refers to price of the good multiplied by the quantity purchased.

Q: A price-discriminating monopoly O is illegal cannot offer discounts sells a larger quantity than it…

A: When talking about the monopoly firm, it can be said that it has the opportunity to set the price of…

Q: When the Fed raises the legal reserve requirement, it   Question 47 options:   a)  increases the…

A: Answer) Reserve requirements is considered as an amount of cash that bank should retain with them.…

Q: Suppose an economy is in long run equilibrium. 2.1 use the model of aggregate demand and aggregate…

A: Suppose an economy is in long run equilibrium. 2.1 use the model of aggregate demand and aggregate…

Q: If specialization and outsourcing can harm domestic workers, why do countries still engage in trade?…

A: A country specializes in the good which it can produce at a lower opportunity cost than the other…

Q: 1- The value of the price elasticity of demand is equal when the price is 2 = P for the following…

A: Price elasticity refers to the percentage change in demand with respect to change in the factors…

Q: The conventional view that economics takes on cheating is that one decides to cheat when there is a…

A: The most well-known reàson students say of dishonesty is to use àll the time they get. Fortunàtely…

Q: Consider Alexei who makes $1,400 per week and just won a ‘set for life’ lottery ticket which…

A: Given,  Alexei makes $1,400 per week and won a 'set for life' lottery ticketFortnightly payment :…

Q: Darrell owns a large corporation that is building a new shopping mall in Winston- Salem, North…

A: A firm who is looking for the funds lies the demand side of the market and who is looking for giving…

Q: If there is 3.5 percent frictional unemployment, 4 percent structural unemployment, and the actual…

A: Unemployment occurs when people are willing to do work but cannot find a job.

Q: The expansion phase of a business cycle occurs from the a) bottom of a trough to the next trough. O…

A: Business cycle refers to increase and decrease real output produced in the economy.

Q: What is a single currency?

A: Currency is a kind of payment used to buy and sell goods and services. In a nutshell, it's money…

Q: The ___________ is the Fed’s primary tool for adjusting the ___________ .   a. interest on reserve…

A: The interest on reserve balances rate is an administered rate, the Fed can steer the federal funds…

Q: Which of the following is not an administered rate?   a. Discount rate   b. ON RRP offering rate…

A: At the marketplace, a rate will be considered as an administrative rate when it is set by the…

Q: Which of the following is true of a labor market with a bilateral monopoly? Employment will be…

A: A bilateral monopoly exists when there is one buyer and one seller in a market.  There is a large…

Q: Jim and TJ are Cournot duopolists. They each make an identical product. They will simultaneously…

A: Introduction Tim and Tj are Cournot duopolist. They each make identical product and have identical…

Q: Consider the following data on two fictional countries: 1 and 2. . Country 1 Country 2 Output per…

A: Given; Production Function; y=Akαh1-α where; α=0.5   Country 1 Country 2 Output per worker 120…

Q: Which of the following is NOT an important determinant of collusion in pricing games? Select one:…

A: Price leaders may use game theory to confidently predict what pricing alternatives and tactics their…

Q: Suppose the following table records the total output and prices for an entire economy. The base year…

A: Nominal GDP is calculated on the current year price on the other Real GDP measures on Base year…

Q: O a) changes in tastes and preferences

A:

Q: Question 1: If you borrowed 18000$ at 4% annual interest. You agreed to repay the loan with five…

A: Answer; 1)Total Interest: $2,216.44 2)Interest= $448.82Principal=$3,594.47 3)Balance after 3rd…

Q: The figure shows the age-earnings profiles for the native born and for immigrants. YSM = years since…

A: Given diagram

Q: 7. As the price level increases in an economy, what happens to the interest rate? Use the AD curve…

A: Money demand is for 3 motives  1. Transaction motive :- for buying goods and services  2.…

Q: Trade theory cannot account for the empirical fact of intra-industrial trade (i.e. that countries…

A: According to trade theory, a country's economic well-being is based on the production of commodities…

Q: Table 2. Q TC FC VC MC AFC AVC ATC D SO 1 E $91 V F. M $49 3 G K N P. R $112 Consider the…

A: Answers   Q7) As Q= 1, AFC = 91 = TFC/Q TFC = 91*Q = 91 E= 91

Q: The next four questions refer to the following supply and demand graphs: III IV XIXIXIX Da D. D, 33,…

A: Thank you for the question. As per BNED, we can answer 3 subparts per session. To get the answer for…

Q: Regulating electric utility prices on the basis of a fair rate of return on investment has resulted…

A: When talking about electric utility market, it can be said that it is the market similar to the…

Q: At full employment and with efficient use of all resources, a society produces a) somewhere outside…

A: Production possibilities frontier shows combinations of two goods a country can produce with the…

Q: As more people migrated west during the gold rush, what happened to the demand curve in most western…

A: Demand Curve: - demand curve is the graphical way of showing the relationship between the quantity…

Q: All else being equal, when foreign incomes fall, U.S. aggregate a) demand will shift to the right. O…

A: Aggregate demand curve shows negative relationship between price level and real output.

Q: Please write 2 pages about: Inverted yield curve (Treasury inverted yield curve) and what it means…

A: The extraordinary decline in yields on longer-term debt below yields on short-term debt of the same…

Q: Question 54 If there is a scientific discovery that eating peanuts cures…

A: Demand refers to total quantity of goods and services that is consume by consumers and they are able…

Q: Application of the "Fitting Organization Structure to International Advantages" model requires the…

A: To create the "all-channel" communication structure, the components of both the circle and star…

Q: Excise taxes are popular sources of revenue for governments because a) they are easy to understand.…

A: When talking about excise tax, it is the form of taxes that is imposed on the goods or service to…

Q: Suppose that Morris has preferences on books and wine represented by the utility function Ub, w)=b+w…

A: We need to find the contract curve here. The formula for contract curve is given by: Contract Curve…

Q: Legal reserve requirements:   Question 56 options:   a)  set the minimum amount of reserves a bank…

A: Reserve requirment= Cash reserve ratio reserve requirement/Bank deposit*100

Form Utility

The term utility in general refers to the satisfaction earned from usage of a particular product or service. Utility always plays an important role because it influences various important elements like demand & thereby the price of the good or service as well. Though utility is not easy to measure, various types of economic models can be used indirectly. There can be various types of utilities like economic utility, marginal utility, cardinal utility, form utility.