economics help... easy question but weird

Slimsta · **Posted:** Tue, 15 Jun 2010 05:35:16 UTC

Many seminars are presented by job candidates for faculty positions in the economic
departments of North American universities. Typically, several current faculty members go out
to dinner with the candidate after the seminar. If the department were to subsidize this activity
by reimbursing current faculty a flat amount, say, $15 per dinner, how would this affect:
a. The number of dinners attended by faculty?
b. The quality of the dinners, i.e. would the subsidy lead to consumption of more
expensive, or less expensive dinners?

pangolin · **Joined:** Fri, 3 Nov 2006 11:50:23 UTC **Posts:** 69

my suggestion would be to try and answer the question using Indifference Curve probably using Slutsky model. Try and analyse where the consumer gets more utility...from similar past questions it seems that the right conclusion is preference towards more expensive dinners...also check past exam papers on Microeconomics

Denis · **Posted:** Sat, 19 Jun 2010 02:56:32 UTC

Denis · **Posted:** Mon, 21 Jun 2010 05:22:16 UTC

.....

Denis · **Posted:** Mon, 21 Jun 2010 05:22:47 UTC

Shadow · **Posted:** Wed, 23 Jun 2010 20:46:52 UTC

Denis wrote:

...a

Denis, please keep things pertinent to the discussion.

Denis · **Posted:** Thu, 24 Jun 2010 05:01:40 UTC

Shadow, I was trying to remove the Dec 31 00 date that was appearing
by making a post; tried 3 times...didn't work; and I don't see a way here
for me to delete these...

Shadow · **Posted:** Mon, 28 Jun 2010 21:44:19 UTC

I'm not sure why you want to do that, but I understand now why it was so odd. You cannot change the post date; if you edit it just puts something at the bottom if no one has responded yet. If you didn't actually respond on the date it says, then that's a stranger problem, and involved with the site itself, so if you're concerned you might PM helmut about it.

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economics help... easy question but weird

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