I just need answer for 1.b), thanks for
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I just need answer for 1.b), thanks for
helping me out!
1/4 3/4 1.a) Consider an...
Please help me with this question, thank you so much! 1.a) Consider an agent who will...
Please help me with this question, thank
you so much!
1.a) Consider an agent who will live for two periods with utility function U(x1, x2) = x1 * x * . The agent receives incomes 11 and 12 in periods 1 and 2 respectively. If the market interest rate is r = 10% and 14 = $10 and 12 = $10, solve for the agent's optimal consumption in each period. Graph the budget constraint and some indifference curves.
Consider an individual who will live for three periods with utility function U(X1, X2, X3) and...
Consider an individual who will live for three periods with utility function U(X1, X2, X3) and periodic incomes I1, I2, I3. Assuming that the market interest rate per period is r, express the agent's utility maximization problem, but do not solve.
3) Consider an individual who will live for 3 periods with utility function U(X1, X2, x3)...
3) Consider an individual who will live for 3 periods with utility function U(X1, X2, x3) and periodic incomes 11,12,13. Assuming that the market interest rate per period is r, express the agent's utility maximization problem, but do not solve.
1. (12 points) Adapted from Williamson chapter 9 question 1. Jason's income in the current period...
1. (12 points) Adapted from Williamson chapter 9 question 1. Jason's income in the current period is y 2200, and income in the future period is U2-2000. The real interest rate is 4%. (a) (2 points) Suppose that current and future consumptions are perfect comple- ments for Jason His life time utility is given by minsc, c21. Draw Jason's indifference curves (b) (2 points) Jason's indifference curves are not the usually smooth curves. The marginal condition for Jason does not...
Question 1 (3 Points): Assume a consumer has current-period income y = 120, future-period income y'...
Question 1 (3 Points): Assume a consumer has current-period income y = 120, future-period income y' = 140, current and future taxes t = 20 and t' = 10, respectively, and faces a market real interest rate of r = 0.08, or 8% per period. The consumer has the following preferences over current and future consumption: U(c, c') = min(4c, 3c'). a) (1 points) Determine the consumer's lifetime wealth. b) (2 points) Determine what the consumer's optimal current-period and future-period...
Hi, I need your answer for both part A and B this question very quickly.Br/H Consider a...
Hi, I need your answer for both part A and B this question very quickly.Br/H Consider a household living for two periods. The intertemporal budget constraint is given by: ?1 + ?2 /1 + r = ?1 + y2/1+r , where C is consumption, ? is income and ? is the interest rate. The household’s preferences are characterised by the utility function: ?(?1, ?2 ) = ?(?1) + ??(?2) where ?(?t) is the period utility function and ? < 1 is...
number 1 please Problem 2. Consider a consumer has Cobb-Douglas preferences over two goods 21 and...
number 1 please
Problem 2. Consider a consumer has Cobb-Douglas preferences over two goods 21 and 22, given by u (21, 22) = 7 ln 21 + In 22. Let pı = 5 and p2 = 3 be the prices of the two goods, and suppose the agent has income I = 20. Suppose there is rationing of goods, so that in addition to paying for goods, the agent must have the appropriate number of coupons. Suppose, the agent begins...
Consider a Diamond model, where we set the productivity factor At to unity (1) in all periods. Th...
Consider a Diamond model, where we set the productivity factor At to unity (1) in all periods. The working population. Lt, grows at rate n, i.e., Lt+1-(1 + n) Lt. Lower-case letters denote per-worker terms, e.g earned (from labor) in the first period of life (wi) is spent on saving (St) and first-period consumption (C1t). The first-period budget constraint can thus be written Ki/Lt. Agents live for two perioo In retirement, the same agent consumes C2t+1, consisting of savings from...
I am trying to understand this material how can i go about solving #4 3. (8...
I am trying to understand this material how can i go about solving
#4
3. (8 points total) Suppose a firm has the following benefit and cost structure: B(Q) 140Q 302 C(Q) 0.50 a. Find the MB(Q) and MC(Q) functions. b. What value of Q maximizes the Net Benefit NB(Q) B(Q)-C(Q)? 4. (50 points total) Abby is a first grader who likes to drink milk and juice. Suppose her parents give her $12 a week in pocket money to spend...
Instructions: Answer the following questions as completely as possible. Write your answer neatly and legibly. When...
Instructions: Answer the following questions as completely as possible. Write your answer neatly and legibly. When drawing a graph, make sure that you label axes and curves, and include appropriate coordinates. Always show your work. Suppose that Bridget and Erin spend their incomes on two goods, food (F) and clothing (C). Bridget’s preferences are represented by the utility function U(F,C) = 10FC, while Erin’s preferences are represented by the utility function U ( F , C ) = 0.20 F^2...
Please help me with this question, thank
you so much!
1.a) Consider an agent who will live for two periods with utility function U(x1, x2) = x1 * x * . The agent receives incomes 11 and 12 in periods 1 and 2 respectively. If the market interest rate is r = 10% and 14 = $10 and 12 = $10, solve for the agent's optimal consumption in each period. Graph the budget constraint and some indifference curves.
3) Consider an individual who will live for 3 periods with utility function U(X1, X2, x3) and periodic incomes 11,12,13. Assuming that the market interest rate per period is r, express the agent's utility maximization problem, but do not solve.
1. (12 points) Adapted from Williamson chapter 9 question 1. Jason's income in the current period is y 2200, and income in the future period is U2-2000. The real interest rate is 4%. (a) (2 points) Suppose that current and future consumptions are perfect comple- ments for Jason His life time utility is given by minsc, c21. Draw Jason's indifference curves (b) (2 points) Jason's indifference curves are not the usually smooth curves. The marginal condition for Jason does not...
Question 1 (3 Points): Assume a consumer has current-period income y = 120, future-period income y' = 140, current and future taxes t = 20 and t' = 10, respectively, and faces a market real interest rate of r = 0.08, or 8% per period. The consumer has the following preferences over current and future consumption: U(c, c') = min(4c, 3c'). a) (1 points) Determine the consumer's lifetime wealth. b) (2 points) Determine what the consumer's optimal current-period and future-period...
number 1 please
Problem 2. Consider a consumer has Cobb-Douglas preferences over two goods 21 and 22, given by u (21, 22) = 7 ln 21 + In 22. Let pı = 5 and p2 = 3 be the prices of the two goods, and suppose the agent has income I = 20. Suppose there is rationing of goods, so that in addition to paying for goods, the agent must have the appropriate number of coupons. Suppose, the agent begins...
Consider a Diamond model, where we set the productivity factor At to unity (1) in all periods. The working population. Lt, grows at rate n, i.e., Lt+1-(1 + n) Lt. Lower-case letters denote per-worker terms, e.g earned (from labor) in the first period of life (wi) is spent on saving (St) and first-period consumption (C1t). The first-period budget constraint can thus be written Ki/Lt. Agents live for two perioo In retirement, the same agent consumes C2t+1, consisting of savings from...
I am trying to understand this material how can i go about solving
#4
3. (8 points total) Suppose a firm has the following benefit and cost structure: B(Q) 140Q 302 C(Q) 0.50 a. Find the MB(Q) and MC(Q) functions. b. What value of Q maximizes the Net Benefit NB(Q) B(Q)-C(Q)? 4. (50 points total) Abby is a first grader who likes to drink milk and juice. Suppose her parents give her $12 a week in pocket money to spend...
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