For each example listed, decide if the good is a normal good or an inferior good. Make sure you answer from the perspective of the individual or individuals doing the buying or consuming.   Billy's mom increases his weekly allowance by %5. As a result, Billy increases the number of apps he downloads on his smartphone. Smartphone apps are

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Price for X is $1 and Y is $2.  Budget is $9.            Good X                Good Y       Quantity Marginal Utility Quantity Marginal Utility 1 8 1 10 2 7 2 8 3 6 3 6 4 5 4 4 5 4 5 3 6 3 6 2 7 2 7 1               To maximize utility, the consumer will buy how much of good X and how much of good Y?

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. Kawther’s income is OMR12 a week. The price of small-sized pizza is OMR3, and the price of a fresh juice is OMR3. Calculate the equation for Kawther’s budget line and illustrate all options on the table. Draw a graph of Kawther’s budget line with the quantity of fresh juice on the x-axis. Kawther’s income is OMR12 a week. The price of small-sized pizza rises from OMR3 to OMR6, and the price of a fresh juice is unchanged at OMR3. Explain how Kawther’s budget line changes with fresh juice on the x-axis.

The principle of diminishing marginal utility says that people don't enjoy consuming more of a good. True or False and Explain the choice

4. Liam initially has a weekly allowance of €24 to spend on eggs (at €0.40 per egg) and beans (at €0.80 per tin). Liam will only consume 4 eggs with each tin of beans and never changes this proportion. (a) What is the utility maximising amount of eggs and beans that Liam buys each week? (b) Suppose the price of eggs rise to €0.60 per egg but the price of beans falls to €0.60 per tin. At the same time, Liam's weekly allowance rises to €30. How much of each good will Liam now buy? Compare your answer to that in (a) and explain the difference, if there is one. Use a diagram to complement your answer.

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Ari intends to purchase a new car and has narrowed it down to a Dodge Ram truck or a Toyota Camry. A Dodge Ram truck costs $55000 while a Toyota Camry costs $20000. The utility that Ari will get from Dodge Ram truck is 12500 while Toyota Camry will generate a utility of 2500. Note: A purchase generating utility tells us the marginal utility of the good. What is the Marginal Utility per Dollar for Dodge Ram truck? What is the Marginal Utility per Dollar for Toyota Camry? Will Ari be better off buying a Dodge Ram truck or a Toyota Camry? ODodge Ram truck OToyota Camry A

Drinking five glasses of water consecutively declinesyour utility, why?