subject
Business, 07.08.2019 02:20 eminim01

David consumes two things: gasoline (g) and bread (b). david's utility function is u(g, b) = 10g^0.25 b^0.75. use the lagrange technique to solve for david's optimal choices of gasoline and bread as a function of the price of gasoline, p_g, the price of bread, p_b, and his income m. with recent decrease in the price of gasoline (maybe due to external shock such as shale gas production) does david increase his consumption of gasoline? for david, how does partial differential g/partial differential p_g depend on his income m? that is, how does david's change in gasoline consumption due to an increase in the price of gasoline depend on his income level? to answer these questions, find the cross-partial derivative, |partial differential^2 g/partial differential m partial differential p_g.

ansver
Answers: 2

Other questions on the subject: Business

image
Business, 21.06.2019 18:00, taniyahreggienae
Arapid increase in the population of a city or town is most likely to lead to which of the following? a. higher-paying jobs. b. low housing prices. c. a seller's market. d. a drop in population density. 2b2t
Answers: 1
image
Business, 22.06.2019 05:00, vadrian4056
Every 10 years, the federal government sponsors a national survey of health and health practices (nhanes). one question in the survey asks participants to rate their overall health using a 5-point rating scale. what is the scale of measurement used for this question? ratio ordinal interval nominal
Answers: 1
image
Business, 22.06.2019 14:30, adenn3693
In our daily interactions we can find ourselves listening to other people solely for the purpose of finding weakness in their positions so that we can formulate a convincing response. select one: true false
Answers: 1
image
Business, 22.06.2019 15:00, darrengresham999
Match the terms with the appropriate definition. 1. work done for pay job 2. series of related jobs based on knowledge, training, tasks performed, interests, and experience career 3. buying or selling products and services using the internet mediation 4. wage amount after deductions are withheld net wage 5. a way a person chooses to live his or her life e-commerce 6. the people who are both able and willing to work technology 7. unequal treatment of others based on a bias concerning a person’s characteristics such as race, religion, gender, or age discrimination 8. the act of sharing information lifestyle 9. the use of a third party to make suggestions workforce 10. knowledge and tools used to perform tasks communication
Answers: 2
You know the right answer?
David consumes two things: gasoline (g) and bread (b). david's utility function is u(g, b) = 10g^0....

Questions in other subjects:

Konu
Mathematics, 14.05.2021 02:10
Konu
Mathematics, 14.05.2021 02:10