Answer:
Katie Kwasi's Utility Function
The units of x1 that she will consume after the change in income is:
= 40 units of x1
Explanation:
a) Data and Calculations:
Katie Kwasi’s utility function, U(x1, x2) = 2(ln x1) + x2
Current consumption = 10 units of x1 and 15 units of x2
When her income doubles, with prices staying constant, Katie will consume:
= 2(2 * 10 of x1) + 15 of x2
= 40 units of x1 + 15 units of x2
Therefore, she will consume 40 units of x1 and 15 units of x2
b) The above function expresses mathematically Katie's utility to be a function of the units of x1 and x2 that she can consume, given her income constraint. If her income doubles, Katie will consume double units of x1 and the same units of x2 as she was consuming before the change in income.
Answer:
Cost savings when transfer are made = $0
Explanation:
In the question it was given that Quail is operating at capacity, then the Minimum and Maximum transfer price would be market price = $15.80
Cost savings when transfer are made = No of unit Marlin purchase*(Maximum transfer price - Minimum transfer price)
Cost savings when transfer are made = 195,000 unit * ($15.80 - $15.80)
Cost savings when transfer are made = $3,081,000 - $3,081,000
Cost savings when transfer are made = $0
Answer: correct evaluation and medium of exchange etc.
Explanation: The main problem with the barter system is that it would be hard to value the goods or services that the parties are exchanging. In the given case, it would be hard to value how many car washes would be equal to a paint of house.
Also finding someone who is willing to paint house in exchange of car washes is another difficult task.
Answer:
a. from one banks to another
Explanation:
Answer:
not me but I'm turning 14.