a function of Y and X; U = f(X‚Y)…………………………..i Let the price of the two commodities be Px and Py respectively Thus total expenditure will be; E = PxX+ PyY ……………………….ii and since the income of the consumer is assumed to be constant (fixed)‚ Hence E≤ M‚ M≥PxX + PyY…………………………iii but since the consumer is assumed to be rational she spends the entire income on the two commodities; Thus M = PxX +Py Y………………….iv Thus from equations ii & iv M =E Since the consumer aims at maximizing the her satisfaction;
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Check out the seniors discounts that the following popular restaurants around St. Augustine‚ Florida offers: Outback Steakhouse Located at 312 State Road‚ this Australian-themed restaurant offers lunch and dinner daily. They offer AARP members a 15-percent discount every Monday through Thursday. Their menu features sides‚ entrees‚ specials and scrumptious desserts including their signature steak sandwiches‚ wood-fired grilled shrimp and triple-layer carrot cake for two. Village Inn This casual
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derivative? 5) Given the following equation for the demand for good X: QD = a1Px + a2I + a3Py Where Px = the price of good X‚ I = Income‚ and Py = the price of a related good‚ Y. A) What sign would expect a2 to have if good X is a normal good? B) If Px = 8‚ I = 10‚ Py = 6‚ a1 = -4‚ a2 = 20 and a3 = -3‚ what is the total quantity demanded? C) Using the relevant information provided in part B‚ solve for the demand equation (Q=f(P))
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using the longest task-time rule. d. What is the efficiency for the balanced assembly line? 24. The owner of Old-Fashioned Berry Pies‚ S. Simon‚ is contemplating adding a new line of pies‚ which will require leasing new equipment for a monthly payment of $6‚000. Variable costs would be $2.00 per pie‚ and pies would retail for &7.00 each. How many pies must be sold in order to break even? 1． A process flowchart uses symbols to represent which of the following? A. Factory location
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Whales in Paradise: An Overview Whales in Paradise became the Gold Coast’s first whale watching tour company when it was registered in 2004 and started operations in 2005(Whales in Paradise‚ n.d.). As of now it offers 3 tours daily from Surfers Paradise with the add offers a pick-up service from Brisbane to join the midday cruise(Whales in Paradise‚ n.d.). Each cruise each lasts approximately 3 hours 15 minutes‚ including a free cruise through the Nerang waterways with a commentary on the history
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Physics Formulas: Mechanics Mechanics is the oldest branch of physics. Mechanics deals with all kinds and complexities of motion. It includes various techniques‚ which can simplify the solution of a mechanical problem. Here are some of the often required physics formulas falling in mechanics domain. Motion in One Dimension The physics formulas for motion in one dimension (Also called Kinematical equations of motion) are as follows. (Here ’u’ is initial velocity‚ ’v’ is final velocity‚ ’a’ is
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some others. Also this café provides all kinds of drinks - alcoholic and non-alcoholic‚ such as juice‚ mineral water and various types of tea. The café’s menu is rather diverse. You can eat salads‚ fish and meat dishes; tasty cakes‚ rolls and and pies with different fillings; fruits - apples‚ oranges‚ grapefruits and lemons cut in small pieces; sandwiches and pancakes with various syrops and sauces; sushi and a variety of ice-cream‚ that can be with fruit sweet syrops‚ nuts and chocolate. The
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Mornings‚ cheesecakes‚ pizza‚ sausage rolls and pies are normally served. For lunch time tuna rolls‚ baguettes and pastries are generally the most common items. Tea‚ coffee and soft drinks are continuously served. 3.0 PROCEDURE To write this report I followed these procedures. 3.1 I decided to measure the canteen dimensions. 3.2 I decided to attend the canteen. 3.3 I decided to interview the students who use the canteen and who does not use the canteen. 3.4 I decided to look at the variety
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Harvard Business School 9-500-039 Rev. November 9‚ 1999 D Goodyear: The Aquatred Launch (Condensed) O N In January 1992‚ Barry Robbins‚ Goodyear’s vice president of marketing for North American Tires‚ was contemplating the upcoming launch of the Aquatred‚ a new tire providing improved driving traction under wet conditions. The Aquatred would be positioned in the U.S. market as a replacement tire for passenger cars. Over recent years‚ the replacement tire market had matured and
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has been estimated as follows: Qx = -15.87 – 40.73Px + 84.17Py + 0.55Ax where Qx represents thousands of bagels; Px is the price per bagel; Py is the average price per bagel of other brands of bagels; and Ax represents thousands of dollars spent advertising Einstein Bagels. The current values of the independent variables are Ax=216‚ Px=0.85‚ and Py=0.79. a.Calculate the price elasticity of demand for Einstein’s Bagels and explain what it means. b.Derive an expression for the
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