Ejercicios de Demand functions, Engel curves and types of goods

10 ejercicios de Demand functions, Engel curves and types of goods que han salido en los exámenes de Microeconomía II de la UPF…

Question 2 · 2016

Suppose an individual's consumption of a particular good decreases whenever their income rises, holding all other variables constant. From an economic perspective, how is this good categorized?

Question 7 · 2016

Ernesto has preferences represented by u(x_1, x_2) = 3x_1 + x_2. Prices are p_1 = p_2 = 3, income is m = 90. Find his Engel curve for good 1.

Question 9 · 2016

Jack has utility u(x, y) = 4*min{x, y}. Prices are p_x = 2 and p_y = 3, income is m. What is his Engel curve for good x?

Question 14 · 2016

David has a fixed income of €900. When prices are p1 = 90€ and p2 = 9€, he chooses (8, 20). When p2 increases to 10€ while p1 remains at 90€, he chooses (9, 9). Classify good 1 with respect to good 2.

Pregunta 2 · Juny 2016

Para un individuo que considera mantequilla y pan complementarios perfectos (proporción 1 a 1), determinar el efecto en el consumo cuando sube el precio del pan.

Pregunta 11 · Juny 2016

Un individuo presenta la función de utilidad u(x1, x2) = 2x1^(1/2)x2. Los precios de los bienes en el mercado son p1 = 2 y p2 = 4, y dispone de un presupuesto total de 200 euros. ¿Cuál es la ecuación de la curva de Engel para el bien x1?

Ejercicio Exercise 9 · 2015

For bundles composed of (bananas, peanuts), suppose John Monkey's utility function is U(x1, x2) = e*min(x1, x2). What is the shape of the Engel curve for bananas?

Ejercicio Exercise 11 · 2015

Marina's preferences are given by U(x1, x2) = x1*x2 + x1. Find her demand function for good 1, X1(p1, p2, m).

Ejercicio Exercise 13 · 2015

Ivan's preferences are described by the utility function U(x1, x2) = min(x1, 2x2). Which expression represents the inverse demand function for good 2, p2(x2)?

Ejercicio 6 · Juny 2015

Preferencias u = 4 min(3x, 2y). Renta m y precios px = 2, py = 3. Hallar la cantidad óptima demandada del bien x.

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