3. Indicate whether following statement is true or false and justify your answer. Concave preferences are an example of well- behaved preferences
Q: Under the monopolistic competition price discrimination can be easily made True or false
A: Gradually in simple words we can say that price discrimination mainly involves charging a very high…
Q: 5. Using money creation to pay for government spending Consider Kharkeez, a hypothetical country…
A: Inflation will occur when a nation prints money or fiat currency without increasing its backing with…
Q: The optimal level of output can be achieved by levying a tax on a company producing a negative…
A: Marginal cost is the change in total cost due to additional unit production of a good. External…
Q: Philippines Central Bank (BSP) plans to increase the Required Reserve Ratio (RRR) of banks from 2%…
A: Information are extracted from T1 and T2 RRR=0.02=2% Loan given to commercial bank=100 From T2…
Q: In Portland, let’s assume that Maria sells coffee in a monopolisticly competitive market. Maria…
A: Here, it is given that Maria is selling coffee in monopolistically competitive market in Portland.…
Q: The linear regression equation, Y= a + bX, was estimated. The following computer output was…
A: Given information: We have a linear regression equation Y = a + bX Where Y is a dependent variable…
Q: There is an economic impact to losing a customer. Describe 4 ways it can impact a company and if…
A: An person or corporation that purchases products or services from another firm is known as a…
Q: What happens when interest rates increase? SAND
A: Interest rate plays an important role in the consumption and investment decisions of people and…
Q: 2. If a worker's wage decreases, the substitution effect says their choice of leisure will while the…
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…
Q: "Consumer confidence nose-dives amid... supply chain problems" Which panel of Figure 1.3 illustrates…
A: The supply curve depicts the quantity supplied at each price level. There is a positive relationship…
Q: a. What are the main factors that cause market failure? b. Give examples of different types of…
A: Market failure refers to a situation under which if a individual acts for his own self interest in…
Q: Q5 (ILOS measured: For Independent IRR Projects answer the following question The High Society Baked…
A: We can find the net present value of the investment. If the net present value is positive, it means…
Q: 5. Profit maximization: Imagine you are Aegor Rivers, founder of the elite mercenary band known as…
A: Given information Price of 6 pounds of gold=6 W= 3 Production function Q=f(E)= 6E1/2
Q: Discuss the category of economy South Africa belongs to (Mixed/Capitalistic/Social). Examine the…
A: An economic system could be a means that by which societies or governments organize and distribute…
Q: Inflation is known as a because it
A: Inflation is the sustained increase in the general price level of goods and services in an economy…
Q: Consider an open economy flexible exchange rate IS-LM model with consumption investment and net…
A: Given information C=550+0.5(Y-T) I=500-1000i NX=350-1000E-0.3Y E=Ee*(1+i)/(1+i*) i--- domestic…
Q: Relationship between trade openness and economic development 2- Definitions of major macroeconomic…
A: Trade openness is one indicator of how much a nation participates in the world trading system. The…
Q: How Supplier relationship will affect the hospitality industry?
A: It is crucial to realize that the hotel business runs on a very distinct set of principles than…
Q: "Germany's Bundestag approved a special defense fund worth €100bn ($110bn) to modernize its army, an…
A: An economy is a region that includes the production, distribution, and sale of products and…
Q: A 3 year straight note was executed by a buyer. The interest paid over the term was $3,431.70. The…
A:
Q: traditional theory predicts that labor demanded would supplied would a. Increase, increase b.…
A: A minimum wage is the least remuneration that employers can legally pay their employees—the price…
Q: the exchange rate regime is flexible, a decrease in the foreign interest rate will use: O the IP…
A: The exchange rate is the price of one currency in respect to another..Exchange rates come in two…
Q: explain the 3 way financial crisis thaT impact economic growth.
A: The financial crisis is a situation in the economy in which the price of asset decline steeply,…
Q: answer true or false and give a short explanation why. Static efficiency is the appropriate measure…
A: Note:- Since we can only answer one question at a time, we'll answer the first one. Please repost…
Q: A firm's short-run average cost curve is U-shaped. Which of these conclusions can be reached…
A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…
Q: Eng. Eco. Q5. Sam invests a sum of $5,000 in a bank at a nominal interest rate of 12% for 10 years.…
A: Given the investment amount = $5000 Nominal interest rate = 12% Time = 10 years
Q: Determine P & F for the diagram below: P = ? immä 3 4 5 1 month A=500 7 six months A' $1500 Α' F For…
A: Given For the first 7 months, the monthly payment is A= 500 and the interest rate is 12% per year…
Q: Use the graph of a monopolistically compet following question. What is the amount of p profit…
A: A monopolistically competitive firm produces at the intersection point of MR and MC in order to…
Q: The Puerto Rico Electric Power Authority (PREPA) is a natural monopoly. The graph shows the demand…
A: Monopoly market has a single seller and has several barriers for new firms to enter in the market. A…
Q: 1) Describe the controversies surrounding the impact of international trade on wages and jobs.
A: Protestantism is a practice in which protectionist trade policies are followed. This policy allows…
Q: 1. A firm has the following total revenue and total cost functions: TR = 21Q- Q² Q³ 3 TC = - 3Q² +9Q…
A: Total Revenue = Price*Quantity Profit = Total Revenue - Total Cost
Q: If the price elasticity of demand is 0.15, and the price is doubled, this will lead to a a. 30…
A:
Q: Spending on a public good such as national defense does greatly does slightly does not night or…
A: Public goods are non-rival and non-excludable in nature. Non-excludable: It implies that it is…
Q: Assume the prices of product X and Y are $1.50 and $1.00, respectively, and that Mr. Chen has $24 to…
A: Budget constraint show the combination of the good and services which is purchase by the consumer…
Q: person is planning for his retired life. He has 10 more years of service. He would like to deposit…
A: Given the time period = 10 years First-year deposit amount = $4000 Annual increase = $500 Interest…
Q: The following table shows the total utility gained from the consumption of Fanta Lemon in a week.…
A: The utility is the want satisfying power of the goods and services. Marginal utility is the change…
Q: Which of the following transactions would be included in GDP? (Select All that Apply) Helpful Hint:…
A: Gross domestic product is the total market value of goods and service produced domestically during…
Q: Classify the statements based on whether each describes a perfectly (purely) competitive firm…
A: A perfectly competitive firm is a price taker, which means it takes the price set by the market…
Q: When the income is increases then there is demand. A. Demand curve is shifting to the right B.…
A: The relationship between income and demand could be explained only if we know the nature of the good…
Q: In the graph below, which depicts the relationship between units produced and total cost, the dotted…
A: The measure that depicts expenses being incurred by a business for carrying out its day to day…
Q: exchange rate is unchanged and that the central bank holds the real money supply fixed. Explain…
A: *Answer:
Q: Please use the following information to calculate the rate of inflation between the two periods…
A: GDP Deflator = Nominal GDP / Real GDP * 100 Inflation rate = Percentage increase in GDP deflator
Q: Assuming that the Euro-U.S. dollar exchange rate is .9. If a German buys an American automobile for…
A: According to the question, it is given that : The Euro-U.S. dollar exchange rate is 0.9 A German…
Q: Q.2 Two firms produce homogeneous products. The inverse demand function is: p(x₁, x₂) = a x₁- x2,…
A: Cournot is quantity competition, and Bertrand is price competition. Both are simultaneous move…
Q: If n=200 and X=60, construct a 90% confidence interval estimate for the population proportion (Round…
A: The likelihood that a parameter will fall between two values around the mean is shown by a…
Q: Person A English Chinese English 10,10 5,0 Person B Chinese 0,5 5,5 A) Find the Nash equilibria of…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: explain the three way of how a financial crisis could impact economic growth.
A: A financial crisis is defined as a situation under which the financial assets loose their value.…
Q: Discuss one country following Capitalism or the Free-market system.
A:
Q: Arturo's Production Possibilities Frontier Ihris 500 450 400 350 300 250 300 1.50 100 30 50 100 150…
A: Production possibility frontier illustrates the combination of two goods that a nation (or…
Q: You are the manager of World Wide Athlete, a chain of six sporting goods shops in your area. The…
A: Number of racing bikes sold per week when the price is $689.99= 15 During the sale, when the price…
Yu
Step by step
Solved in 2 steps
- If Utility=.5lnX+3Z+10+4VW then Marginal utility from X is...... and the Mu of Z is...... Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a b с 10; 3 3,4 5/X; 3 d 2/VW; 31. Consider a utility maximizer with complete, transitive, and monotonic preferences. Sup- pose you have data on the pairs of choices made by the consumer at different times. The bundles comprising these pairs of choices are y = (x1, x2) and z = (21, 22). For each of the scenarios given below, make use of the axiomatic properties of the preferences to say whether y is >, <, 3, E, or incomparable t z. (a) y =(2,4) and z = (1, 4) (b) y =(0,4) and w 3 z, where w =(3, 6) (c) y =(2,4) and z = (6, 3)1. Is it impossible for two indifference curves to intersect one another? why? 2. What does it mean that preferences are complete? Now would the real-life implica- tions of this assumption look like?
- 2. What does it mean that preferences are complete? Now would the real-life implica- tions of this assumption look like?U(x, y) = xayb A consumer maximises utility subject to a budget constraint M = Pxx+Pyy Where px is the price of good x, py is the price of good y and M is the budget available. a. Derive an expression for the marginal utility of x. Under what condition is the marginal utility diminishing. b. Derive an expression for the marginal utility of y. Under what condition is the marginal utility diminishing.After Marc consumed his second cup of coffee, which gave his 15 units of satisfaction, his total utility is 40. From this we can deduce that Marc’s marginal utility is a) zero b) positibe c) negative d) increasing
- For problems 1, 2, 3, we consider an agent Ann who consumes goods and y and has a utility U (x, y) = x²y. In these problems, Good costs P and good y costs Py. (1) Ann has I to spend. (a) Write out Ann's utility maximization problem. (b) Find: MU, MUy, and MRSxy. (c) Write out Ann's tangency condition. What is the other equation needed to solve for Ann's demand? (d) Find Ann's demands for x and y as functions of Pr, Py, and I. (Partial credit if you do this only for I = 30, P₂ = 5 and Py = 2.)2. A consumer has a utility fuinction given by a) Derive an expression for the two marginal utilities: MU (x1, 22) and MU2 (21, r2). Since AMRS = -YU use these marginal utilities to derive a simple expression for the MRS (r1, 22). b) Optimal choice on the part of the consumer implies MI RS = -. Suppose M 20, p1 = p2 = 1. Show the optimal choice in this case on a well-labelled graph of the budget set. Include an indifference curve consistent with these preferences. c) Now keep income at 20, and pi = 1, but set p2 - 2. Show the optimal choice in this case on a well-labelled graplh of the budget set. Inclnde an indifference curve consistent with these preferences.Mylie’s total utility from singing the same song over and over is 50 utils after one repetition, 90 utils after two repetitions, 120 utils after three repetitions, 80 utils after four repetitions, 20 utils after five repetitions, and -60 utils after six repetitions, as shown in the table below. a. Write down her marginal utility for each repetition. Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Repetitions Total Utility Marginal Utility 0 0 — 1 50 2 90 3 120 4 80 5 20 6 -60
- 8. Show that if strict preferences > over three outcomes x, y and z, do not satisfy transitivity, so that x > y > z > x, then these preferences cannot be represented by a utility function.Mylie's total utility from singing the same song over and over is 70 utils after one repetition, 110 utils after two repetitions, 140 utils after three repetitions, 160 utils after four repetitions, 120 utils after five repetitions, and 60 utils after six repetitions, as shown in the table below. a. Write down her marginal utility for each repetition. Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Repetitions 0 1 2 3 4 5 6 Total Utility Marginal Utility 0 70 110 140 160 120 60 b. Once Mylie's total utility begins to decrease, does each additional singing of the song hurt more than the previous song or less than the previous song? O More than the previous song O Less than the previous songa. Fill in the third column showing the marginal utility he gets from each additional scoop. Use a negative sign if appropriate. Quantity of Ice Marginal Utility of Total Utility Cream (scoops) Last Scoop Eaten 1 12 12 2 19 23 4 23 20