Business, 12.03.2020 22:58, allieliquori

In 2005, Americans bought 9.1 million home radios and 3.8 million home-theater-in-a-box units (TWICE, March 27, 2006, www. twice/article/CA6319031.html). Suppose (for simplicity) that the cost of the home radios was $230 million, that the cost of the home-theater-in-a-box units was $770 million, and that the average consumer has a Cobb-Douglas utility function and buys only these two goods. Estimate a plausible Cobb-Douglas utility function such that the consumer would allocate income in the proportions actually observed. The typical consumer's Cobb-Douglas utility function, where R is radios and T is home-theater-in-a-box units, is U(R, T)equals nothing. (Enter the exponents in your equation rounded to two decimal places.) (Properly format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. E. g., a superscript can be created with the ^ character.)

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 07:30, kennaklein2

When selecting a savings account, you should look at the following factors except annual percentage yield (apy) fees minimum balance interest thresholds taxes paid on the interest variable interest rates

Answers: 1

continue

Business, 22.06.2019 17:40, lukecoupland4401

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.

Answers: 3

continue

Business, 22.06.2019 22:00, mlinares776

In which of the following games is it clearly the case that the cooperative outcome of the game is good for the two players and bad for society? a. two oil companies own adjacent oil fields over a common pool of oil, and each company decides whether to drill one well or two wells. b. two airlines dominate air travel between city a and city b, and each airline decides whether to charge a "high" airfare or a "low" airfare on flights between those two cities. c. two superpowers decide whether to build new weapons or to disarm. d. in all of the above cases, the cooperative outcome of the game is good for the two players and bad for society

Answers: 3

continue

Business, 23.06.2019 02:10, yaniravivas79

Which of the following most accurately describes how the equilibrium price of a good or service can be determined? a. by moving the supply curve right or left until it matches the demand curve. b. by finding where the supply curve and the demand curve intersect. c. by doing market research to determine the maximum price consumers will pay. d. by taking the opposite of the columns in a supply schedule and a demand schedule.

Answers: 2

continue

Do you know the correct answer?

In 2005, Americans bought 9.1 million home radios and 3.8 million home-theater-in-a-box units (TWICE...