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Legendary!
Can anyone help me with calculating the different statements, to know which one is correct?
Can someone help me with this question?
Hey, can someone explain to me how to solve this? Thank you
first you need to create the MRS which is MU1/MU2. MU is the partial derivative of the utility function so for MU1, that would be x2^1/2 and for MU2 1/2x1*x2^-1/2. Then you equalise the MRS with P1/P2 so that you have MU1/MU2=4/12 so it is 1/3=x2^1/2/(1/2x1*x2^1/2). Now the x2 cancels out so you´ve got 1/3=x2/(1/2x1). So now x2=1/3*1/2*x1 so x1=6x2. Now you put that in the budget constraint P1*x1+P2*x2=72 So you´ve got 4*6x2+12*x2=72, hence x2=2 and now plug in 2 for x2 in the budget constraint, solve for x1, so 4*x1+12*2=72, hence x1 should be 12 and the answer is B
Can anyone explain to me question 10?
You first plug P in the equation to get your Q. So that should give you a Q =4. Then you take the derivative of your Q function and you should get -0.6 as an answer. Then you do P/Q x Q(p)' and you get ur elasticity. So that is: (20/4)x-0.6 = -3. Since you can take a negative elasticity and consider it positive, as stated on the book, your answer should be A. Price =3.
thank you !!
Can anyone please help me with this. I don’t quite get how to calculate this
You have to be a bit cautious in this one. Normally we would add both demand curves to get one for the entire nation, but this will lead to nowhere in this example. You have to look at both curves independently and substitute the P for 11. For Northern Part -> D=2000-100*11=900 For Southern Part -> D=5000-500*11=-500 ; D<0 The final answer is c) Q=900, as at P=11 there is only demand in the Northern Part (Southern Part has negative demand at this price; thus not included)
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Hey, where did you find the 2017 resit exam? Cause I can't see it on studydrive
Hey, did you find it finally ?
No sorry..
Hi there, I do not understand 6C. I am not able to solve for Xa
so what should we study
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for people who has to do the resit paper 202O Moving to opportunity, do you guys obtain already your grade for the economic part?
Is there anyone who knows about ordinary demand function? xoxo
Hi! :) Does anyone know what is the curve for demand and supply of macroeconomic ?? I am having a hard time to figure this out, so help me pls
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Does anyone know how to do question 38? Thanks