U(x₁,x₂)=1/4㏑(x₁)+3/4㏑(x₂) a) What kind of preferences are these (Cobb-Douglas, quasi-linear, perfect substitutes or perfect complements)?
b) Determine optimal choice for generic prices and income.
c) Determine optimal choice when prices are P₁=3, and P₂=2 and income m =40
d) The price of good 1 decreases to p₁ = 2. Compute the optimal bundle, and then decompose the variation in the demand of good 1 in income and substitution effect according to the Slusky’s method.

The following cost data relate to the manufacturing activities of chang company during the just completed year: manufacturing overhead costs incurred: indirect materials $ 15,800 indirect labor 138,000 property taxes, factory 8,800 utilities, factory 78,000 depreciation, factory 150,600 insurance, factory 10,800 total actual manufacturing overhead costs incurred $ 402,000 other costs incurred: purchases of raw materials (both direct and indirect) $ 408,000 direct labor cost $ 68,000 inventories: raw materials, beginning $ 20,800 raw materials, ending $ 30,800 work in process, beginning $ 40,800 work in process, ending $ 70,800 the company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. a total of 20,500 machine-hours were used during the year. required: 1. compute the amount of underapplied or overapplied overhead cost for the year. 2. prepare a schedule of cost of goods manufactured for the year.

Adds up the money earned by producers plus taxes paid to the goverment. a) income approach b) product approach c) expenditure approach

Match the steps for conducting an informational interview with the tasks in each step.