Suppose that the consumers preferences are given by the utility function U(C, l) = ln C +
Question:
Suppose that the consumer’s preferences are given by the utility function U(C, l) = ln C + α ln l,where α > 0. Determine the consumer’s choice of consumption and leisure and interpret your solutions.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (10 reviews)
The smaller the pvalue the stronger the evidence that y...View the full answer
Answered By
Dudhat Vaidehi
I tutored mostly elementary school students privately after school and during the summer. We met in their homes or at the public library. I charged an hourly fee, and I provided any necessary materials.
Having taught in special education in two local schools for many years meant that I had contact with a lot of parents of special needs students. I never had to advertise — word of mouth was how most folks knew of me. At one point I did have a website, but didn't utilize it much. I stayed very busy, especially in the summers, and always had a full schedule. I typically met with each student's teacher in order to get an idea of what the focus of my instruction/remediation should be. Becoming familiar with the student's learning style(s) was also very helpful. Often parents would share records and test results with me. After each tutoring session, I documented the student’s progress and gave parents written updates, as well as phone calls or emails as needed.
While my students and I certainly utilized technology and the internet often during our sessions, I never tutored online or for any tutoring company, so am not familiar with the curriculums or methods used in those settings.
Tutoring one on one was very enjoyable and rewarding. My students and I had fun, and grew quite fond of one another. The extra income was a bonus. I had to retire from tutoring due to a physically handicapping disease, and miss my students very much.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Consider the consumer choice example in this chapter, where consumption and leisure are perfect complements. Assume that the consumer always desires a consumption bundle where the quantities of...
-
Shelly's preferences for consumption and leisure can be expressed as U(C, L) = (C - 200) ( (L - 80). This utility function implies that Shelly's marginal utility of leisure is C - 200 and her...
-
Suppose the current tax system is such that the government takes some fixed percentage t of any labor income that you make. A. Some in Congress have proposed the following alternative type of tax...
-
In a bygone day, airlines issued discount tickets to students who would be willing to fly on a particular day, with no notice, at a discounted price, one needed to show proof of being of student. The...
-
Use PSpice to solve Prob. 4.52. Chapter 4, Problem 52. For the transistor model in Fig. 4.111, obtain the Thevenin equivalent at terminals a-b. O t 6V
-
8.2 1. No opening stock. Purchases Sales (units) January 100 @ x June 80 December 60 @ 5 FIFO stock at the end of December, 360. Find x. Opening stock 100 units. Average cost 5 per unit. Purchases...
-
What is priming, and why is it called a type of implicit memory? What precautions are taken to be sure episodic memory is not accessed in an implicit memory experiment? What is repetition priming?...
-
Before its acquisition by Royal Dutch Shell, Pennzoil Company held a portfolio of trading equity securities that cost $660,100,000 and had a market value of $955,182,000 on January 1. Assume that the...
-
What costs are ignored in Cost Volume Profit analysis? Group of answer choices Fixed costs None of these answers is correct. Period costs Mixed costs.
-
In this mini-case you will perform some procedures required as a part of audit planning. For ease your audit manager has already organized the workpapers and completed several of the required...
-
Does purchasing power parity hold in practice in the short run? Why or why not? Does it hold in the long run? Why or why not?
-
In the consumers choice problem, show that at least one good must be normal.
-
Explain the term makespan.
-
Find the angle and length of the resulting vector for the given d and e vectors by the analytical method. After that, find the parameters of the resulting vector for the three vectors. In the answer,...
-
The problem I have identified is that healthcare leaders could benefit from addressing the issue of stress and burnout, which impact revenue (Scott, 2022). I have found a peer-reviewed article...
-
Facebook, Inc is the company Complete a 3-5 year forecast for your target company assuming a 10% average growth rate for the duration of the forecast period Assuming a long-term growth rate of 5%...
-
BSC-It is important for healthcare leaders to link their departmental balanced scorecard (BSC) to a corporate BSC because it facilitates alignment with the overall strategic objectives of the...
-
Hebert Company adds material at the beginning of production. The following production information is available for March: Beginning Work in Process Inventory (40% complete as to conversion) Started...
-
For each of the following accounts, identify whether that item is an asset, liability, or equity account. a. Bonds payable b. Equipment c. Accounts payable d. Salaries payable e. Common stock f....
-
(a) Bright Sdn Bhd (BSB) is a tax resident manufacturing company in Johor, which involves in ceramic tiles. Currently, BSBs annual sales turnover has been forecasted to be around RM 300,000 for the...
-
Economists in Funlandia, a closed economy, have collected the following information about the economy for a particular year: Y = 10,000 C = 6,000 T = 1,500 G = 1,700 The economists also estimate that...
-
Three students have each saved $1,000. Each has an investment opportunity in which he or she can invest up to $2,000. Here are the rates of return on the students investment projects: Harry.............
-
Three students have each saved $1,000. Each has an investment opportunity in which he or she can invest up to $2,000. Here are the rates of return on the students investment projects: Harry.............
-
For a company with the characteristics below, what would you expect the sustainable growth rate, g, to be? net income/share = $13.6 return on equity = 12.4% payout ratio = 39.9% plowback ratio =...
-
With an initial cost of $100,000, a WACC of 15%, and subsequent cash flows for years 1, 2, 3 of $25,000, $50,000, $75,000, in how many years will break even occur? Use non-discounted cash flows for...
-
Last month, Kaitlin's average daily balance on her credit card was $1,180.81. The annual interest rate on that credit card is 17.52%. The minimum payment on that card is the interest charge ( I...
Study smarter with the SolutionInn App