ECN 312 help! A-D 2. (25) Rebecca is just starting a two-day, fully-funded vacation. First thing...
(25) Rebecca is just starting a two-day, fully-funded vacation. First thing this morning, she is given $1000. First thing tomorrow morning, she is given $750. This is all the money that Rebecca has access to. Rebecca has no access to credit and cannot borrow money. She can, however, save her money overnight in a savings account that pays 10% interest per day. She will spend all of her money while on vacation. (a) (5) Plot and label Rebecca’s endowment (the...
2. (25) is given $1000. First thing tomorrow morning, she is given $500. This is all the money that Rebecca has access to. Rebecca has no access to credit and cannot borrow money. She can, however, save her money overnight in a savings account that pays 10% interest per day. She will spend all of her money while on vacation. (a) (5) Plot and label Rebecca’s endowment (the bundle she starts off with) in the space of consumption today (C1)...
becca is just starting a two-day, fully-funded vacation. First thing this morning, she is given $2000. First thing tomorrow morning, she is given $1000. This is all the money that becca has access to. becca has no access to credit and cannot borrow money. She can, however, save her money overnight in a savings account that pays 15% interest per day. She will spend all of her money while on vacation. (a) Plot and label becca’s endowment (the bundle she...
ECN 312 help! A-D 1. (25) Consider the following utility function which specifies Eli's preferences over two goods, Xy- lophones (X) and Yo-Yos (Y). (Please note that we call this type of utility function quasi-linear.) U(X, Y) = 10VX + 20% (a) (5) What is the marginal utility of X? Label your answer MUx and draw a box around your answer. What is the marginal utility of Y? Label your answer MUy and draw a box around your answer. What...