E4 Jarod has $26. The following table lists sets of items and their prices that Jarod is considering purchasing, ranked according tohis preferences from highest to the lowest. Using the optimization principle, which bundle of items will Jarod purchase?Bundle 1Bundle 2Bundle 3B Bundle 4Bundle 312345mx1Pair ofsocksStreamingsubscription3 gallons ofgasoline3microwaveburritos2 slices ofpizzaPriceX1$7.99$9.99$2.50(pergal.)X2Item x₂BaseballcapChocolatebrownieTicket tomovie$2.50 Uber trip(each) to airport$3.00 Chocolate(each) milkshakePrice$14.99$2.00$9.00$12.00$4.00Item x3X₁T-shirt2 cups ofcoffeeBag ofpopcornBottle ofwaterPremiumHulusubscriptionWhich of the following is a Pareto improvement?PriceX3$12.99 Highest$4.00(each)$6.00$3.75In 2016, the Albany City Council passed a resolution that imposed a fee of $180 for garbage collection on apartment buildings with twoor more units. Opponents of the fee complained that landlords would pass along the fee to the tenants.Assume that the short-run supply curve of apartments in the city of Albany is perfectly Inelastic and that many identical apartments areavailable just outside the city limits. What conclusions can reasonably be drawn in this situation?Rank$14.99 LowestChoose one:OA. The opponents of the fee are correct: landlords will simply raise rents by the full amount of the garbage fee.OB. The fee would likely be split evenly between the tenants and the landlord.OC. Because the supply of apartments is perfectly inelastic in the short run, the landlords will bear the full cost ofthe garbage collection fee.O D. Landlords would immediately stop renting some apartments because of the added financial burden of thegarbage collection fee.Choose one:O A. The owner of a store reduces the store manager's bonus and uses the money to make a charitable donation.OB. A court orders the driver at fault in an accident to pay $5,000 to the other driver for the damage done in theaccident.OC. I purchase a cup of coffee at a price that is below my reservation price.OD. The board of directors of Boeing reduces the pay of the chief executive officer so customers can purchaseBoeing jets at a lower price.Label the slope and intercept terms on the budget diagram, in terms of Pi. P2, and m, where pi is the price of 21. P2 is the price of 22.and m is income.RE55

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Jarod has $26. The following table lists sets of items and their prices that Jarod is considering purchasing, ranked according to his preferences from highest to the lowest. Using the optimization principle, which bundle of items will Jarod purchase? Bundle 1 Bundle 2 Bundle 3 B Bundle 4 Bundle 3 2 mx₂ Pair of socks Streaming subscription Price X1 $7.99 $9.99 Item x₂ Baseball cap Chocolate brownie Price X2 $14.99 $2.00 Item x3 T-shirt 2 cups of coffee Price X3 Rank $12.99 Highest $4.00 (each)

Jarod has $26. The following table lists sets of items and their prices that Jarod is considering purchasing, ranked according to his preferences from highest to the lowest. Using the optimization principle, which bundle of items will Jarod purchase? Bundle 1 Bundle 2 Bundle 3 B Bundle 4 Bundle 3 2 mx₂ Pair of socks Streaming subscription Price X1 $7.99 $9.99 Item x₂ Baseball cap Chocolate brownie Price X2 $14.99 $2.00 Item x3 T-shirt 2 cups of coffee Price X3 Rank $12.99 Highest $4.00 (each)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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