1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Genrish500 [490]
3 years ago
8

Elmer’s utility function is U(x, y) = min{x, y2}. If the price of x is $25 and the price of y is $15 and if Elmer chooses to con

sume 7 units of y, what must his income be? a.
Business
1 answer:
Arte-miy333 [17]3 years ago
6 0

Answer:

the income is $1,330

Explanation:

The computation of the income is shown below;

Given that

U(x, y) = min{x, y2}

Price of x is $25

ANd, the prcie of Y is $15

So,

25X + 15Y = M

if Y = 7,

So,  

At eqm, X = Y^​​​​​​2 = 49

Then ,

M = 25 × 49 + 15 × 7

= 1225 + 105

= 1330

Hence, the income is $1,330

The same should be relevant and considered too

You might be interested in
To avoid problems at work you believe you have to adjust to tge truth a little? Agree or Disagree
meriva
I disagree because you should never change the truth just a little because if you do your lying to yourself and everybody else.
8 0
3 years ago
Read 2 more answers
On December 30, 2005, Bart, Inc. purchased a machine from Fell Corp. in exchange for a non-interest bearing note requiring eight
Darya [45]

Answer: c. $94,240

Explanation:

On December 31, 2005, one payment has already been made which would mean that only 7 payments are left. As the first of these remaining 7 will be paid the year after, this is an ordinary annuity.

Note payable value = Present value of seven $20,000 payments

= 20,000 * Present value of ordinary annuity of 1 at 11% for 7 years.

= 20,000 * 4.712

= $94,240

5 0
2 years ago
The discount rate is the interest rate charged by:_______.
disa [49]

Answer:

B

Explanation:

I believe it is the interest rate the federal reserve uses for loaning to banks. Its the minimal rate, also.

5 0
3 years ago
The developing country of alpha had a rule that none of its factories could be owned by companies from the developed country of
hjlf
<span>When the developing country alpha breaks the rule of factories not being owned by the companies of developed country beta would imply that alpha is in a vulnerable position in its trade. So this means this would be an example of decline in trade and investment barriers.</span>
4 0
3 years ago
Organizations can utilize​ a(n) ________ as an internal corporate communication network that uses Internet technology to link co
lukranit [14]

Answer:

The answer to this question is E.database.

Explanation:

8 0
3 years ago
Other questions:
  • Newland and Palermo form a partnership. Newland contributes land with a book value of $50,000 and a fair value of $60,000. Newla
    7·1 answer
  • The production possibilities curve:
    13·1 answer
  • Richard is collecting estimates for a house that he will have the funding to build in 12 months. Which of the following factors
    10·1 answer
  • If Brazil gives up three automobiles for each ton of coffee it produces, while Peru gives up seven automobiles for each ton of c
    11·1 answer
  • Now you must decide who should be on the team. Kelly will be on the team as a matter of course, and you must choose three other
    15·1 answer
  • In both Gamma and Delta average labor productivity is $20,000 per worker per year. The population of Gamma is 200,000 and the po
    6·1 answer
  • ‘A person starts a business venture because he lost his job’. Which form of entrepreneur is he.
    9·2 answers
  • Suppose that you buy a TIPS (inflation-indexed) bond with a 1-year maturity and a coupon of 7% paid annually. Assume you buy the
    13·1 answer
  • Which of these statements is true regarding women in the united states workforce?
    7·1 answer
  • The body of law that governs oral and written agreements associated with the exchange of goods, services, money and property is
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!