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A: government spending increases the consumption and consumption increases the GDP so we can calculate…
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- 529. Exercise. Marsha has a job which pays $30 per hour and which allows her to work for as many hours as she would like. Unfortunately, she has a kidney disease and must spend 3 hours each day traveling to the hospital and getting dialysis. Her utility function is x²y, where r is hours of leisure and y is dollars spent on consumption goods. (a) Write down Marsha's budget constraint in terms of dollars. write down Marsha's budget constraint in terms of hours. (b) How many hours each day does Marsha work? she spend on consumption goods? (c) Suppose Marsha gets a kidney transplant and no longer needs dialysis. How many more hours will Marsha work? (The answer might be negative.) How many more dollars will she spend on consumption goods? (Again, the answer might be negative.) | Then |How many dollars does21. The budget constraint:(a) Represents the set of all baskets the consumer can afford(b) Represents the set of all baskets the consumer can afford while spending all availableincome(c) Represents the set of all baskets that give the consumer the same level of utility whileholding spending constant(d) Represents the set of all baskets in which the consumer purchases only one of the goodsDear Expert Hand written solution is not allowed
- Urgent4.An individual consumes products X and Y and spends $30 per time period. The prices of the two goods are $3 per unit for X and $3 per unit for Y. The consumer in this case has a utility function expressed as: U(X.Y) = 0.5XY How much X should this individual consume, given that he is maximizing the utility? ( A) 4.17 ( B) 5 (C)6 D) 6.25An additional unit of Old Product X will bring Cindy an MU of 15 utils, an additional unit of New Product Y will bring Cindy an MU of 30 utils, and an additional unit of New Product Z will bring Cindy an MU of 40 utils. If a unit of Old Product X costs $10, a unit of New Product Y costs $30, and a unit of New Product Z costs $20, which product will Cindy prefer to spend her money on? a. Old Product X. b. New Product Y. c. New Product Z. d. More information is required.
- Q5MICROECONOMICS Clara is leaving for the university restaurant with 3000 HUF in her pocket. Clara is only interested in two things; grilled chicken (x) and salad (y). One slice of grilled chicken costs 300 HUF and the price of 100 grams of salad is 500 HUF. What is the slope of Clara's budget line assuming that she spends her entire budget on these two items and she measures her consumption of grilled chicken on the horizontal axis and salad on the vertical one? (Please use two decimals in your answer.)Sarah has a budget of 58. Her utility function if U(x,y) = x*y. %3D The price of good x is 1, the price of good y is 8. How many units of good x does Sarah consume? Answer: Type here to search 01/
- W 7 Ms. Bain maximizes 6. utility (given her budget constraint) at point X, skiing 2 days and spending 3 days horseback riding. Budget liņe Curve B U Y Curve A 1 Curve C V 1 2 3 4 5 6 7 Days of horseback riding per semester Part II Graph N 4. 3. Days of skiing per semesterWhy does a change in income cause a parallel shift in the budget constraint?A consumer's budget is 137. A unit of good x costs 3 and a unit of good y costs 4. If the consumer purchases 3 units of good y, how many units of good x can the consumer purchase? Please round your answer to two decimal places. Answer: Previous page 2028 P Type here to search 01/12/2021