FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume two cities, A and B, exhibitidenticalutility functions given by U=1.6N - 0.33*N 2 , where N denotes the city's population in million. Each city

Assume two cities, A and B, exhibitidenticalutility functions given by

U=1.6N - 0.33*N2, where N denotes the city's population in million. Each city has apopulation of 3m. Are they in equilibrium? Why or why not?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Accounting

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

28th Edition

1337902683, 978-1337902687

Students also viewed these Economics questions

Question

★★★★★
(a) Why has the use of employee teams been so controversial? (b) What are the pros and cons?

Answered: 1 week ago

Question

★★★★★
The quantity of gasoline (in tens of thousands of gallons) sold at a gas station during a day has the density function for a suitable constant c (which you should be able to identify). Calculate the...

Answered: 1 week ago

Question

★★★★★
The ledger of Howard Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. An analysis of the accounts shows the following....

Answered: 1 week ago

Question

★★★★★
ZZZ Company manufactures a product that sell at wholesale for $9 per unit. The company had no beginning inventory in 2013. These data summarize the 2013 year operations. Prepare an income statement...

Answered: 1 week ago

Question

★★★★★
A Golf Ball Is Hit With An Initial Speed Of 116 Ft/Sec At An Angle Of Elevation Of 45 From The Tee To A Green That Is Elevated 45 Ft Above The Tee As Shown In The Diagram. Assuming That The Pin, 369...

Answered: 1 week ago

Question

★★★★★
The balance sheet for Quinn Corporation is shown here in market value terms. There are 6,000 shares of stock outstanding. Market Value Balance Sheet Cash Fixed assets $45,500 490,000 Equity $535,500...

Answered: 1 week ago

Question

★★★★★
ZARA, a Spanish fashion giant, has redefined fast fashion. Founded in 1 9 7 5 by Amancio Ortega, ZARA boasts over 2 , 0 0 0 stores in 9 6 countries, a testament to its rapid global expansion. Their...

Answered: 1 week ago

Question

★★★★★
Question 4 (10 points) Listen Base on the video "United Breaks Guitar" by Dave, answer the following questions: Look up on internet and describe what has impact on United Airlines after this song...

Answered: 1 week ago

Question

★★★★★
Analyze the external country market elements of China found in the case. List five solid bullets for each aspect: Political, Economic, Social, Technological

Answered: 1 week ago

Question

★★★★★
What are some elements of your identity that you feel are obvious to other people?

Answered: 1 week ago

Previous Question Next Question