for which utility function recardian equivalence does not hold?

According to Kahneman and Tversky, what is the major problem they find with the basic tenets of utility theory?

Don't use pen or paper

Aji Fatou's utility function for Blueberry (b) and Raspberry (r) is given as follows: U = f(b, r); Budget constraint: 100 = 4b + 5r. If Blueberry is graph in the horizontal axis and Raspberry on the Vertical axis. Which of the following is true? %3D a. If Aji Fatou spend her entire income on Blueberry, she will get 25 Blueberries. b. If Aji Fatou spend her entire income on Raspberry, she will get 20 Raspberries. c. The slope of her budget line is 4/5. d. All of the above.

Given a Utility function: U(x,y) = 3xy. Suppose the Price of x is 2, and the price of y is 4. What is the optimal choice of y as a function of x. ( MRS = (Px/Py).

Mr. A derives utility from martinis (m) in proportion to the number he drinks: U(m) = m Mr. A is particular about his martinis, however: He only enjoys them made in the exact proportion of two parts gin (g) to one part vermouth (v). Hence we can rewrite Mr. A’s utility function as U(m) = U(g,v) = min (g/2, v). a. Graph Mr. A’s indifference curve in terms of g and v for various levels of utility. Show that, regardless of the prices of the two ingredients, Mr. A will never alter the way he mixes martinis. b. Calculate the demand functions for g and v. c. Using the results from part (b), what is Mr. A’s indirect utility function? d. Calculate Mr. A’s expenditure function; for each level of utility, show spending as a function of pg and pv. Hint: Because this problem involves a fixed-proportions utility function, you cannot solve for utility-maximizing decisions by using calculus.

given the utility function U=150X+40X2-X3, derive average and marginal utility functions, Find the value of X at which total utility is maximum, and the value of X at which average utility is maximum?

The marginal rate of substitution (MRS) is not dependent on the transformation of a particular utility function (MU). True or False

Aji's utility function for Blueberry (b) and Raspberry (r) is given as U = f(b, r); Budget constraint: 100 = 4b + 5r, If Blueberry is graph in the horizontal axis and Raspberry on the Vertical axis, the slope of this budget line is (Please put your answer in fraction form like 3/7). The maximum number of Raspberry Aji could afford is (Please put your answer in numerical forms without comma and decimal place). The maximum number of Blueberry Aji could afford is (Please put your answer in numerical forms without comma and decimal place). Aji is considering 3 different bundles X, Y & Z. Bundle X contains 10 Blueberry and 15 Raspberry, bundle Y contains 7 Blueberry and 13 Raspberry, bundles Z contain 5 Blueberry and 16 Raspberry. Bundle X cost bundle Y cost & bundle cost (Please put your answers for all these 3 bundle cost in numerical forms without dollar sign, comma or a decimal place). What is the optimal bundle? (Please choose X,Y or Z, upper case only)

Another instance when people are likely not to spend a dime (or a minute) on an item is when they have a dislike for mixing the item with other items available. In this case, we say the consumer has ‘non-convex preferences’ and indifference curves are bowed out from the origin. In plain language, the consumer has a preference for binging. We often feel this way towards our favorite social media app. Consider a kid who has four hours a day to spend on social media. They enjoy spending time on Snapchat (x) or spending time on Twitter (y).   a) Write the kid’s time constraint and illustrate it in a graph where you measure time spent on Snapchat along the horizontal axis and time spent on Twitter along the vertical axis. This kid’s utility from time spent on Snapchat and time spent on Twitter is U(x,y) = 4x2+ y2.   b) In your graph, draw a couple of the kid’s indifference curves. Notice how the kid’s |MRSY,X| increases along each curve as he spends more time on Snapchat and less time on…