Refer to the diagram. The slope of curve ZZ at point A is approximately Multiple Choice O O O +2. +2½. -2½. +4.

Draw thes e utility functions a) u Cxiy) = 2. %3D

Please answer the all question from the picture with the steps... God bless You... ☺️

6. Explain the marginal rate of substitution. No more than 3 lines

Marginal cost is the one more unit of a good and opportunity cost of producing increases as production O price that must be paid to consume; decreases as consumption O opportunity cost of producing: decreases as production O price that must be paid to consume; increases as consumption of the good increases.

D E B 04 What does point D on this graph represent? O An optimal choice O A choice on the budget constraint O An impossible choice given the income O A choice that would result in income left over

In this question use 'well-behaved' indifference curves. (a) Draw an 'optimal solution'. (b) The price now falls. On the same graph draw the new optimal solution. (c) Has the consumption of good 1 gone up or down? What type of good could this be?

Graphical and Intuitive Optimization Consider a consumer who must allocate their available income between the consumption of two goods, Beer and Pizza.  Their preferences over Beer and Pizza adhere to the usual assumptions we have made about preferences. The indifference curve map below reflects their preferences and the budget constraint reflects current income and prices. In the simplest terms possible, define or explain the term "Marginal Utility of Beer" (MUB). In the simplest terms possible, define or explain the term "Marginal Rate of Substitution of beer for pizza" (MRSBP). In the simplest terms possible, intuitively explain the meaning of MUB/PB, where PB represents the price of one unit of Beer.

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In the derivation of AVC, to find its minimum, you need Multiple Choice O O the minimum-slope ray out of the origin to the TC. the minimum-slope ray out of the origin to the A. the minimum-slope ray out of the origin to the TVC. the flattest slope on the TC.