Suppose we have a market with 200 individuals with preferences over two goods, x and y.
Consider that all 200 individuals have the utility function U=x2/3y1/3 and that each individual has the same income and is subject to the same prices. Calculate the market demand for x as a function of income and prices.
Find the own price elasticity of demand for good x. Is the elasticity constant or is it changing at different values of Px?
a. Suppose now that we know m=180,Px=4, and Py=2. What is the market demand for x? This should be a number.
b. Consider now that 100 individuals (type A) have the utility function U=x1/3y2/3 and the other 100 (type B)have the utility function U=x2/3y1/3. Each individual still has the same income and is subject to the same prices. Calculate the market demand for x as a function of income and prices.
c. Suppose now that we know m=180,Px=4, and Py=2. What is the market demand for x? This should be a number.

Which of the following explains why the government sets a required reserve ratio for private banks? a. to allow the government to control the interest rate charged on loans. b. to prevent banks from printing too much money and causing inflation. c. to make sure banks don't run out of money when customers make withdrawals. d. to enable the regulation of risk levels in the decision process of offering loans. 2b2t

Suppose that kenji, an economist from an am talk radio program, and lucia, an economist from a school of industrial relations, are arguing over health insurance. the following dialogue shows an excerpt from their debate: lucia: a popular topic for debate among politicians as well as economists is the idea of providing government assistance for health benefits. kenji: i think it is oppressive for the government to tax people who take care of themselves in order to pay for health insurance for those who are obese. lucia: i disagree. i think government funding of health insurance is useful to ensure basic fairness. the disagreement between these economists is most likely due to . despite their differences, with which proposition are two economists chosen at random most likely to agree? lawyers make up an excessive percentage of elected officials. minimum wage laws do more to harm low-skilled workers than them. tariffs and import quotas generally reduce economic welfare.

Do you think a travel organization company might be able to get less expensive airline tickets then you as an individual could get? (no less then 25 words)