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- Suppose prices are Px = 2.5, Py = 5 and income is m = 215. The government taxes the consumer an extra $0.5 for each unit of xif she buys beyond 50 units. If the consumer spends all of her money on good x, how many goods x will the consumer get after tax (good x purchased after 50 units)?Assume money supply increases at rate z. Explain what seigniorage is. Use formulas. What are the factors that can increase the seigniorage?Course: Microeconomics - Intertemporal Consumption Decisions Consider a person who consumes in the 2 periods (C1 and C2), but ONLY works and earns an income in the first period (C1). Assume that consumption in each period behaves as a normal good.a) What is the effect of a rise in income on welfare? And on consumption in both periods? GRAPHb) What is the effect of a rise in the interest rate (assume that r goes from 10% to 15%) that occurs before the consumption decisions on welfare? GRAPH and on consumption in both periods?) GRAPH
- Question 34 Stephanos spends all of his $500 allowance on slices of pizza and gas for his pickup truck. He spends eighty percent of this on pizza and the rest on gas. Because of a shortage of gas, the price of gas increases by 40%. This makes his consumption of gas (measured in gallons) fall by 20%. If he keeps spending all his money on pizza and gas, what is the percentage change in his consumption of pizza (measured in slices)? does not change 2% increase 3% decrease 4% increase 1% decreaseQUESTION 1An individual lives for two periods and decides how much to consume in each period.- In the first period his consumption equals C1 and his income Y1 = 200- In the second period his consumption equals C2 and his income Y2 = 100He can save or borrow money in the first period to finance his consumption in the second period.The interest rate he gets in case he saves or has to pay in case he borrows money equals 7%.Determine the budget constraint of this individual. C2 = −0.935·C1 +314C2 =−1.07·C1 +314C2 =−0.8·C1 +314C2 =−1.08·C1 +314 QUESTION 2The total production of a good y is determined by the production function y = 3L2/3K1/3, where L is labour input and K capital input.The reward (factor prices) for labour and capital are, l = 27 en r = 2, respectively.The producer needs to produce 9000 units of good y.How much units of labour will he hire if he wants to miminize his total costs? 1587,4839,953000515,23 QUESTION 3A good is traded on a perfectly competitive…need quality answer Nuoya has $256 to spend on cherry and/or coconuts. The price of cherry is $12/kg and the price of coconuts is $17/kg. What is the slope of her budget line, if cherry is on the horizontal axis and coconuts are on the vertical axis? Round your answer to two decimal places, if necessary. Hint: is slope positive or negative?
- WHY DID YOU COPY ANSWERS FROM PREVIOUS " QUESTION 2". I JUST SEND YOU TWO QUESTION, NOT a,b,c. THERE IS NO ANSWE FOR MY 2 QUESTIONS. ANSWER THESE TWO QUESTION IMMIDEATELLY. THIS IS FOR MATHEMATICAL ECONOMIC CLASS Question (2): The market for disposable cell phones: Q = 2300 – 16p and Q = 1850 + 14p. Suppose that more consumers prefer the disposable cell phone over the smart phone because the disposable cell phone is more durable than the smart phone. This latest news comes after the fact that firms that manufacture disposable cell phones have the latest technology integrated into their production facilities. What will be the market effect? Going back to question (d), suppose that the price of a disposable cell phone is now set at $11.75. How many disposable cell phones will be demanded by consumers? Whichever curve you’ve determined should be shifted, derive the new function.Explain how does adecrease in the current income y affect the consumer’s consumption-saving decision. In particular,explain: 1) How will current consumption c, future consumption c', and savings s change; 2) Arethere any substitution effect or income effect. Make sure you draw two figures, one for the borrowersand one for the lenders.Explain how does adecrease in the current income y affect the consumer’s consumption-saving decision. In particular,explain: 1) How will current consumption c, future consumption c′, and savings s change; 2) Arethere any substitution effect or income effect. Make sure you draw two figures, one for the borrowersand one for the lenders
- i will 10 upvotes no chat gptHow to find best affordable bundle (BAB) ,where the MRS=-20 along Ray 1 and MRS=-15 along Ray 2Assume that Abdullah has RO 44 to spend on Energy drinks and Protein Bars each month and that both goods must be purchased whole (no fractional units). Energy drinks cost RO 8 and Protein Bars cost RO 3 each. Abdullah’s preferences for Energy drinks and Protein Bars are summarized by the following information: Energy drinks Protein Bars No. per Month TU MU MU/Px No. per Month TU MU MU/Py 1 42 1 18 2 78 2 33 3 108 3 45 4 132 4 54 5 150 5 60 6 162 6 63 7 168 7 66 Fill in the figures for marginal utility and marginal utility per dollar both Energy drinks and Protein Bars. Are these preferences consistent with the law of diminishing marginal utility? Explain briefly. Given the budget of RO 22, what quantity of Protein Bars and what quantity of Energy drinks will maximize Joe’s…
