Tuesday, April 13, 2010

I really need some Micro Economics Help?

I have no Clue where to go on the net to research these historical costs of first class mail and cell phone service costs.


Can someone please help me.....





Draw the budget constraint for a consumer who spends $50 a month on cell phone services and first-class mail in 2003 and 2004.








Can you identify whether the consumer was better off or worse off in 2002 than in 2000?








Draw some indifference curves for cell phone calls and first-class mail and show the income and substitution effects of the changes in prices that occurred between 2003 and 2004.

I really need some Micro Economics Help?
You have to take into account the inflation rate as well as the rate of the devaluation of the currency in question. The question of "better off" is not necessarily a theoretical economic question, but a practical economic one. I could spend $60/mo on a cell phone bill that meets my needs and offers features that fit my business and personal life or spend $50/mo on a plan that offers little benefit to me. I am ""better off" with the $60/mo plan even though it costs me more.


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