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How is question 56 derived again?
Do you have an answer?
How do you compute that?
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No it's C
the quantity distance between S and D at price 32 60-30=30
Can someone explain why the answer is B and not A? I can't figure out why
The budget constraint is a+0.5b=10 which is then just multiplied by 2
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Can anyone help me to solve question 44?
Can anyone explain how to calculate this?
I thought its the other way around ∆q/∆L? - help
Do you mean Demand?
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I can't understand question 33?
q is the acres he moves and he needs to work 2 hours (L) to get 1 q if you where to use q=2L and plugging in 2 for L you would get 2 so you need to q=0.5 L and when you plug 2 in that should give you 1
I found 9 and the answer is 6 can someone please explain it to me ?
MR=105-10q1-5q2=15 10q1=90-5q2 q1=9-0.5q2 q2=9-0.5q1 plug in each other and you get 0.75q1=4.5 q1=6
can someone upload all the weeks of skills please??
Already done, u got the week 2,3 and 4 here on study drive
i know but nothing for 5,6,7
Tiny mistake. There needs to be a minus in front of the left term.
????? Please help
A natural monopoly has a strictly decreasing average cost curve so it should be a
Why is it answer C) and not D)?
P=100-2(20)-2Qb P=60-2Qb 2Qb=60-P Qb=30-0.5P
Can anyone help with the course assignment? stuck on some questions
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relevant until page 80
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Can anyone help me to solve question 18?
U=X+3Z which mean you get 1 point of utility from 1 good x and 3 points of utility from 1 good z. Y=10, Px=0.5 and Pz=2 always try the two extremes first so max amount of one good and then max amount of other while the other is 0. 10=0.5x x=20 and 10=2z z=5, Put the quantities back into the utility function to see which combo gives most utility given budget constraint in this case its 20, Other way is MRT=MRS
Anyone has has an econlab key that I can borrow? Please? First one who gives me the code gets a sandwhich at SBE. Thank you. Message me +31640773190
a sandwich for a code worth 50 euros:/
How do you solve this question? the correct answer is A
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Why is -2 + 0.67 = -1.2?
MRuk= MRge Puk(1+ 1/E) = Pge (1+ 1/E); Where E stands for elasticity Puk=3Pge For Germany; Pge(1+1/-2)= 0.5 Pge UK; 3Pge(1+1/E)= 0.5Pge times 2, divide by Pge 6+6/E =1 6/E = -5 Euk = -6/5= -1.2
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awesome summary
How to solve it?
Hi Anonymous Letter, I attach my solution. In this question, we first have to find the price that will arise in this monopoly and then use the formula for the Lerner Index Hope that helps! Best, Your Success Formula Team - Wojtek
Can somebody explain why the answer is b?
Hi Anonymous Letter, Here, we see 3 different demand curves - one intersecting at q=10, one at q=20 and one at q=40. The differences arise here because of the different prices of snacks in each of the scenarios: 1) Intersection at 10 => buying 0 juice Bobby can afford 10 units of snacks. As he has 20 euros to spend, it means the price per unit of snacks is 20/10=2. Then, the demand is tangent to the utility function where q=5 so we find one point of his demand curve to be p=2, q=5. 2) Intersection at 20 => p=20/20=1. Then tangent to the utility for q=7. So p=1, q=7 another point on the demand curve. 3) Intersection at 40 => p=20/40=0.5. Then tangent to the utility for q=10. So p=0.5, q=10 another point on the demand curve. Thus, we see that answer b is one of the possible points we found. Hope that helps! Best, Your Success Formula Team - Wojtek
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Can please anyone explain 51 and 52?
why c?
because the new supply equation is Qs=10+5(p-2) which is 10+5p-10 so Qs is 5p
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He gets more utility from pizzas(exactly 10 more ) than from beer if he where to spend all his money on beer he could buy 10 which would give him 10 utils but if he where yo spend all his money on pizzas he would get 20 utils which is more than any other combinations
Can somebody please show the calculation?
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I don't get how you came to X=20
suppose that you only spend X, then Z should be 0 -> 0.5X=10, X=20
How do you get to 2 units (answer B)?
See ppt. week 7, slide 26 P=25-4Q; P=25-4(Qa-Qb) = 1 (residual demand = MC) for Qb; (25-4Qa) - 4Qb Rb; Qb(25-4Qa)- 4Qb^2 (Total revenue for b; P*Q) MR; 25-4Qa -8Qb (derivative with respect to Qb) MR=MC; 25-4Qa-8Qb=1 4Qa+8Qb=24 Qa=Qb 12Qb=24, Qa=Qb=2
anyone of you who knows why answer c is wrong? the correct one is D
you have to take the mr of the inverse demand not the normal demand function so its P=2000-2Q and MR is double the slope P=2000-4Q
Can somebody explain this question?