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Derive the indirect utility function form the given direct utility function . , dddddP 0 d,. Use Roy’s identity to construct demand functions for the two goods dP and d,. Are these same as demand functions derived from the direct utility function?
Assume a hypothetical consumer good X and good Y. the price of good X is 1 and price of good Y is 3 and the consumer budget is birr 10 for the two goods. where: Qx is quantity of good X, Qy is quantity of good Y and TUx and TUy is total Utility from consuming good X and Good Y respectively.
Based on the given information, answer the following questions.
a. Compute the marginal utility of the two goods
b. At what amounts of consumption does diminishing marginal utility starts to occur for the two goods?
Monopolist with a constant MC of 6, sells products in 2 separate markets.
Market 1: P1 = 24 - Q1
Market 2: P2 = 12 - 0.5Q2
(a) Calculate profit-maximizing price and quantity in these 2 market.
(b) Calculate monopolist's total profit
(c) Calculate DWL in market 1
If the price declines from $400 to$300 and as a result quantity demand increases from 1100 to 1400, elasticity of demand is
What is the primary function of tariff on industrial nations? In developing nations?
Discuss whether high government spending on police and armed forces could be result of market failure

What is probability in microecomics?
a product has utility if it
Can you check if my answer is correct?
Why do you think there is such as a difference in the percentage of monthly income spent on rail travel in the UK compared with other European counties mentioned in the article?

In the UK, the British rail is privatised. Rail services in the UK have been provided by private companies. Therefore, giving them the right operate services being costly. However, in Europe, the rail service is a publicly owned system, which is cheaper.
There is no real competition in the UK rail system, commuters around the UK rely on trains to go to work. They can’t commute with alternative rail provider.