a) If a piece of machinery depreciates at an annual rate of 4.35%, how many years will it take for the machinery's value to reduce to half of its original value? b) A cafe finds that the demand equation for its new coffee blend product given by: Q=24/p^0.75 Where P is the price per cup and Q is the number of cups served per hour. Find the elasticity of demand Ed c) Find the effective annual rate for an interest rate of 4.5% p.a. compounded monthly. Answer as a percentage to 2 decimals

Q: Show and explain the effects in kind payments and cash payments on individual’s utility by using a…

A: We will take the example of food and non-food products for better understanding the in kind payments…

Q: Problem 2: Cleo's rides Cleo has a fixed weekly budget for bike and taxi rides, and the more the…

A:

Q: 3-4. What is the difference between a consumer’s disposable and discretionary income?

A: Disposable Income : The disposable income is the measure of cash you have left over after you've…

Q: Message strategy is the general message that will be communicated to consumers identifying consumer…

A: Message strategy is making a difference between a successful marketer or a failure marketer, During…

Q: Explain how changes in income (budget constraint) and prices affect consumer consumption choices.…

A: Considering a 2 good case given the prices and income levels of consumer budget constraint / line is…

Q: Can someone else measure your utility why or why not?

A: The term "utility" is commonly used in the subject of economics. It can be used to calculate the…

Q: he table below to answer the following question. Table 3 Price of Jolt $1.00/can $1.00/can $1.00/can…

A: Price elasticity of demand is the ratio of %change in Qd(quantity demanded) and %change in P(price).…

Q: How would universal basic income affect consumer optimum?

A: Universal basic income is a scheme to provide a specific sum of money to all the citizens of a…

Q: sense 2. Calculate the price elasticity of demand for the following products and state whether…

A: For question no. 2 we need not use the mid point formula. Simply point elaticity formula is…

Q: EXERCISE 7 Aisha is considering how to allocate the next 6 hours of her free time. She could choose…

A: Budget Line: given the price of 2 goods and consumer’s income. The budget line shows different…

Q: What is the meaning of the term utility?

A: The economics as a study is based upon the idea that the resources which the economies have tend to…

Q: You categorize spending for this month into four categories: Rent, Food, Fun, and Other. The…

A: The given figure depicts the following: 38% of total spending is made on rent 31% of total spending…

Q: Would you call your refrigerator a comfort or a necessity?

A: Necessity commodities are those products and services that customers can purchase regardless of…

Q: Luke has a monthly income of $80. He spends this money making telephone calls from home (measured in…

A: Budget constraint refers to all possible combinations of goods that a person can afford, given the…

Q: Sara is a teenage artist who has been making paintings based on watercolor, each painting sells for…

A: Sara is a teenager who has been making paintings based on watercolor , each painting sells for 150…

Q: nomics i

A: Economics tends to affect our daily lives in both subtle and obvious ways.

Q: erry decides to decrease her work hours from 20 to 10. 1. What would be her marginal utility gain…

A:

Q: While deriving consumer's equilibrium, what is given? (a) Income of the consumer (b) Price of the…

A: When a consumer purchases goods and services, he/she wants to attain maximum satisfaction from the…

Q: Scott loves to go to baseball games, especially home games of the Cincinnati Reds. All else equal,…

A: The net benefit of a project is determined by totaling its benefits and subtracting all of its…

Q: What is mean by ‘Time' in types of utility ?

A: The term utility mean wants satisfying power of a commodity. The utility is the expected…

Q: Explain the four kinds of utility.

A: In economics, to represent benefit or worth, the idea of utility is utilized. Its use has grown…

Q: What is the trend of the total utility

A: Total utility refers to the overall satisfaction or usefulness that a consumer derives from…

Q: If Ginna spends her entire budget, she could buy a chosen set of groceries and also buy 10…

A: Given,  Ginna's budget is £150Her preferences are either groceries (G) or notebooks (N)Utility…

Q: When a consumer is below the budget line, what does it mean?

A: According to the given question A budget line is gradually a line which have other name that is the…

Q: Jayden's grandmother gives him $240$⁢240 each month, which he spends on pizzas and burgers. Usually,…

A:

Q: How does a consumer determine how much of a good he or she will buy?

A: In a market, when a consumer wants to purchase a specific good, he needs to decide how much quantity…

Q: Where is the consumer's new solution if the consumer's preferences are homothetic?

A: All commodity bundles that provide the same amount of utility after consumption are referred to as…

Q: What are the two things consumers can do with income?

A: Income is the financial gain earned during a particular period of time.

Q: U(sandwich, lemonade) = %3D (sandwich)0.3(lemonade)0.7 (a) Find the marginal utility of sandwich.…

A: The utility function of the consumer shows the total amount of satisfaction or utility a consumer is…

Q: Pepsi and coke are Substitute or compliment good?

A: The goods which can be used in place of one another to fulfill the needs of a consumer are termed as…

Q: qty per week Marginal Utility of songs Marginal Utility of Cookies 1 15 25 13 20 12 16 4 11 13 10 11…

A: Price of song=$2 Price of cookie=$1

Q: Drinking five glasses of water consecutively declines your utility, why?

A: Utility is referred to as the want satisfying power of the commodity. Most economic theories based…

Q: Total utility (utils) 0 80 120 148 160 155 Quantity consumed per day 0   1     2     3…

A: Quantity consumer per day Total utility (utils) 0 0 1 80 2 120 3 148 4 160 5 155