Marginal Rate Of Substitution Economic Assignment Help

A scholar who does an economic field of study must have a comprehensive understanding of the habits and relations of consumers and in what way economies function. One needs to analyze what is seen as normal aspects of the economy such as independent agents and markets, their relations, and the aftermath of the relations. All these summed up, it makes economic subjects onerous to many students. This is the main reason why my homework writers are here for you. An example of such a question is;


5. Suppose that there is a village having 1000 people. There is one public good, the irrigation facilities. Villagers have the same utility function u(x,G)=x; -100/G, where x is a numeraire good, measured by the money spent on private consumption and G is the scale of the irrigation facilities. The price of the irrigation facilities is 10 yuan per unit. Every villager has an income of 1,000 yuan per year.

(a) Write down an expression for the absolute value of the marginal rate of substitution between private consumption and the public good.

(b) What is the marginal cost of producing the irrigation facilities?

(c) Write down the condition for a Pareto efficient supply of good G and solve for the Pareto efficient amount.

(d) Suppose that everyone in the village pays an equal share of the cost of the public good. When individual decides his demand for the public good and private consumption, what is the budget constraint of each villager?

(e) What is the individual optimal demand for the public good G ? Will it be larger than, smaller than, or the same size as the Pareto optimal amount?


Get Help With Your Assignments

We cannot run away from the fact that economic studies are difficult and time-consuming. This is not an issue when it comes to us at my homeworkwriters because we have the finest and fast writers who will get the job done at a pocket-friendly price.


Calculate your order
275 words
Total price: $0.00

Top-quality papers guaranteed


100% original papers

We sell only unique pieces of writing completed according to your demands.


Confidential service

We use security encryption to keep your personal data protected.


Money-back guarantee

We can give your money back if something goes wrong with your order.

Enjoy the free features we offer to everyone

  1. Title page

    Get a free title page formatted according to the specifics of your particular style.

  2. Custom formatting

    Request us to use APA, MLA, Harvard, Chicago, or any other style for your essay.

  3. Bibliography page

    Don’t pay extra for a list of references that perfectly fits your academic needs.

  4. 24/7 support assistance

    Ask us a question anytime you need to—we don’t charge extra for supporting you!

Calculate how much your essay costs

Type of paper
Academic level
550 words

How to place an order

  • Choose the number of pages, your academic level, and deadline
  • Push the orange button
  • Give instructions for your paper
  • Pay with PayPal or a credit card
  • Track the progress of your order
  • Approve and enjoy your custom paper

Ask experts to write you a cheap essay of excellent quality

Place an order