Category Assignment

A Welfare and Game Theory Approach

An economy consists of two individuals, A and B and two goods, a private good, which is called good 1, and a public good, which is called good 2. Each individual i=A,B is endowed with 24 units of time, which can be used to produce…

Answer the following:

i.  Present graphically production plan, feasible production plan, efficient production plan, and optimal production plan. ii.  Given the production function f(x1,x2)=x10.5×20.5,  calculate the profit maximizing demand and supply functions, and the profit function. Solution i. Graphically representing production plans involves plotting…

Stacey was paid a retiring allowance of $25,000.00 when her employment was terminated in July 2023. Stacey started with the organization in December 1985 and became a fully vested member of the company pension plan in December 1986. Calculate the portion of Stacey’s retiring allowance that will be eligible to transfer to a Registered Retirement Savings Plan.

Solution:- Retiring allowances, also known as severance pay, are amounts paid to officers or employees when or after they retire from an office or employment, in recognition of long service or for the loss of office or employment. Explanation: In…

Chapter R, Section R.1, Concepts and Vocabulary, Exercise 2

Explanation Use the order of operations (PEMDAS = Parenthesis →→ Exponent →→ Multiplication →→ Division →→ Addition →→ Subtraction) and perform the calculations in that order from left to right. 4+5∗6−3 Perform the multiplication first. 4+30−3 Now perform the addition. 34−3 Finally, perform the subtraction. 34−3=31 Verified Solution ✅ 31