Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 12, 2024

Please show work thank you ! a) (4 points) Sakura's utility is defined by the function: U=5x1/5y2/5. Her income is $24 and px=py=$2. What is

Please show work thank you !

a) (4 points) Sakura's utility is defined by the function: U=5x1/5y2/5. Her income is $24 and px=py=$2. What is her optimal consumption of good x? b) (2 points) Is good x normal? Prove your claim. Free-Response #3

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

Introduction to Econometrics

Authors: James H. Stock, Mark W. Watson

3rd edition

133595420, 978-0138009007, 138009007, 978-0133486872, 133486877, 978-0133595420

More Books

Students also viewed these Economics questions

Question

★★★★★

Write the null and alternative hypotheses you would use to test each situation. a) In the 1950s, only about 40% of high school graduates went on to college. Has the percentage changed? b) Twenty...

Answered: 1 week ago

Question

★★★★★

In Problems below use the indicated points on the graph of yf (x) to identify points at which f (x) has (a) a relative maximum, (b) a relative minimum, and (c) a horizontal point of inflection. 1. 2....

Answered: 1 week ago

Question

★★★★★

2. Give ideas for ways any family, even those with few economic resources, can celebrate accomplishmenta favorite food; the chance to choose a game to play; a comment to a special person such as an...

Answered: 1 week ago

Question

★★★★★

Colwyn buys a 10% corporate bond with a current yield of 6%. When he sells the bond 1 year later, the current yield on the bond is 7%. How much did Col make on this investment?

Answered: 1 week ago

Question

★★★★★

Problem 17-11 (LO. 2) In January 2018, Iris Corporation purchased and placed in service a certified historic structure building that houses retail businesses. The cost was $300,000, of which $25,000...

Answered: 1 week ago

Question

★★★★★

Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. Lance works for the convention bureau of the local Chamber of Commerce, while Wanda is employed part-time as a...

Answered: 1 week ago

Question

★★★★★

What was the price of a room at two-star, three-star, and four-star hotels in the major cities of the world during the first half of a recent year? The given data contains the mean prices in a...

Answered: 1 week ago

Question

★★★★★

Question 1: (5 Marks) A particle moves along a straight line with a velocity given by (t) = 51 - 4t+2. where v(t) is in meters per second and f is in seconds (a) Determine the acceleration of the...

Answered: 1 week ago

Question

★★★★★

1 : WHY PTERIDOPHYTES ARE CALLED VASCULAR CRYPTOGAMS ? 2 : WHAT ARE THE MIST IMPORTANT ADVANTAGE OF PTERIDOPHYTES ?

Answered: 1 week ago

Question

★★★★★

Globex Corporation creates, sells, and maintains of digital solutions for customers. It has 16,000 employees spread over 32 geographical locations. The organization has 12,000 company owned devices...

Answered: 1 week ago

Question

★★★★★

A concrete block making company is developing an aggregate capacity plan from the following sales forecast for its 6" and 8" concrete blocks. Product Sales Forecasts (Concrete Blocks) 6" Block 1st...

Answered: 1 week ago

Question

★★★★★

1. Define "Push" and "Pull" production systems. Which is better in current production and service environment and why ? 2. What is "Kanban"? What are some of its benefits ? 3. As shown in the video,...

Answered: 1 week ago

Question

★★★★★

1.Oil article Definition of glut = an excessively abundant supply of something. LONDONUp to 50 oil tankers are waiting to unload cargo in the port of Rotterdam, the highest number since 2009 and...

Answered: 1 week ago

Question

★★★★★

2. In this chapter, the reader should reflect on the following concepts:

Answered: 1 week ago

Question

★★★★★

1. To gain knowledge about the way information is stored in memory.

Answered: 1 week ago

Question

★★★★★

5. Which metaphors do you mainly use when talking about organizations and companies? What do these metaphors express about an organization or a company? Are there other metaphors that may be more...

Answered: 1 week ago

Previous Question Next Question