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Anettt [7]
3 years ago
15

Suppose that MUX = Y and MUY = X. The prices of good X and good Y are $5 and $4, respectively. How many units of good X does the

consumer buy if she has $410 of income?
Business
1 answer:
bagirrra123 [75]3 years ago
6 0

Answer:

She consumes 41 units of good X.

Explanation:

Utility Maximization:

The maximum utility that a consumer derives from the use of a specified amount of a good or service.

Consumer M aximise the utility when following condition is satisfied.

MUx / MUy = Px / Py

Y / X = 5 / 4

4Y = 5X

According to given sitation the budget constraint is

Px ( X ) + Py ( Y )= M

5X + 4Y = 410

Using 4Y = 5X

thus, 5X + 4Y = 410

5X + 5X = 410

10X = $410

X = 41.

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Answer:

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Explanation:

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Takers, on the other hand, put their needs ahead of others. They try to gain maximum with minimum efforts. Roland displays traits of a taker.

7 0
3 years ago
Suppose a gold miner finds a gold nugget and sells the nugget to a mining company for $600. The mining company melts down the go
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Answer:

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Explanation:

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Here the GPD figure is ascertained by summing the amount of additional value created by each factor of production at each stage of the production process of the final product.

<em>Only the values added are summed, the cost of the inputs or intermediate goods are not included</em>

<em>In this question, the final value of $2200 represents the amount by which the GDP has increased in the period. This also can be verified using the value-added approach as follows</em>

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Green Productions performs London shows. The average show sells 1,300 tickets at $60 per ticket. There are 175 shows per year. N
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Answer:

Explanation:

hope this helps:)

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