Bundle: Economics: Private And Public Choice, Loose-leaf Version, 16th + Mindtap Economics, 1 Term (6 Months) Printed Access Card
16th Edition
ISBN: 9781337956666
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Question
Chapter 26, Problem 3CQ
(a):
To determine
Differences in the wage of a lawyer and a minister.
(b):
To determine
Differences in the wage of an accountant and an elementary teacher.
(c):
To determine
Differences in the wage of a business executive and a social worker.
(d):
To determine
Differences in the wage of a country lawyer and a Wall Street lawyer.
(e):
To determine
Differences in the wage of a skilled, experienced craftsperson and a school dropout.
(f):
To determine
Differences in the wage of an upper-story window washer and ground-floor window washer.
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Now, let us assume that Brie has altruistic preferences. Her utility function is now given by:
1
UB (xA, YA, TB,YB) = (1/2) (2x+2y) + (2x+2y)
What would her utility be at the endowment now? (Round off your answer to the nearest
whole number.)
110
Problema 4 (20 puntos):
Supongamos que tenemos un ingreso de $120 y enfrentamos
los precios P₁ =6 y P₂ =4. Nuestra función de utilidad es:
U(x1, x2) = x0.4x0.6
a) Planteen el problema de optimización y obtengan las
condiciones de primer orden.
b) Encuentren el consumo óptimo de x1 y x2.
c) ¿Cómo cambiará nuestra elección óptima si el ingreso
aumenta a $180?
Please draw the graph for number 4 and 5, I appreciate it!!
Chapter 26 Solutions
Bundle: Economics: Private And Public Choice, Loose-leaf Version, 16th + Mindtap Economics, 1 Term (6 Months) Printed Access Card
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