subject
Business, 09.11.2019 00:31 wavy419

Joseph has the utility function u(f, h) = 10f2h, where f is the quantity of food he consumes per year and h is the quantity of housing per week. suppose the price of food is $10 and the price of housing is $5, while joseph has an income of $150/week. a. what can you say about the nature two goods that joe consumes? and why so? b. does the indifference curve exhibit diminishing marginal rate of substitution (mrs)? provide appropriate reasons. c. calculate joseph's mrs as a function of the quantities f and h. show all the work. d. what is the expression for the budget constraint?

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 11:30
Schonhardt corporation's relevant range of activity is 2,500 units to 5,500 units. when it produces and sells 4,000 units, its average costs per unit are as follows: averagecost per unitdirect materials $ 7.60direct labor $ 2.90variable manufacturing overhead $ 1.65fixed manufacturing overhead $ 2.90fixed selling expense $ 0.95fixed administrative expense $ 0.65sales commissions $ 0.75variable administrative expense $ 0.65if 4,500 units are produced, the total amount of fixed manufacturing cost incurred is closest to: multiple choicea $16,800b $11,400c $11,600d $15,400
Answers: 3
question
Business, 22.06.2019 11:30
When the amount for land is 36,000 and the amount paid for expenses is 10,000, the balance of total asset is
Answers: 2
question
Business, 22.06.2019 16:00
If the family’s net monthly income is 7,800 what percent of the income is spent on food clothing and housing?
Answers: 3
question
Business, 22.06.2019 18:00
Which of the following is a characteristic that can be used to guide the design of service systems? a. services cannot be inventoried. b. services are all similar. c. quality work means quality service. d. services businesses are inherently entrepreneurial. e. even service businesses have internal services.
Answers: 2
You know the right answer?
Joseph has the utility function u(f, h) = 10f2h, where f is the quantity of food he consumes per yea...
Questions
question
Mathematics, 24.06.2019 01:30
question
German, 24.06.2019 01:30
question
History, 24.06.2019 01:30
question
Mathematics, 24.06.2019 01:30
Questions on the website: 13722360