Tacos Soda Quantity Utils Quantity Utils 0 0 0 0 1 14 1 100 2 24 2 120 3 32 3 134 4 38 4 144 Suppose the table above shows your total utility from tacos and sodas. Assuming you have $12 a week to spend, and the prices of tacos and sodas are $2 and $4, respectively. Which bundle is optimal for you to choose and why? (give your answer in pairs of tacos and sodas - for instance, x tacos and y sodas).

6.7 (1) Mary's utility function is U(b, c) = b+ 100c – c, where b is the number of silver bells in her gardem and e is the number of cockle shells. She has 500 square feet in her garden to allocate between silver bells and cockle shells. Silver bells each take up 1 square foot and cockle shells each take up 4 square feet. She gets both kinds of seeds for free. (a) To maximize her utility, given the size of her garden, Mary should plant her "budget constraint" for space. Solve the problem as if it were an ordinary demand problem.) silver bells and cockle shells. (Hint: Write down (b) If she suddenly acquires an extra 100 square feet for her garden, how much should she increase her planting of silver bells?_ How much should she increase her planting of cockle shells? (c) If Mary had only 144 square feet in her garden, how many cockle shells would she grow?- (d) If Mary grows both silver bells and cockle shells, then we know that the number of square feet in her garden must be greater…

Carol has very weird preferences. She only cares about quantity. When evaluating a bundle, Carol only looks at the highest amount of a good she can consume in each bundle, regardless of whether it is of eggs or dumplings. She is indifferent between two bundles only when the largest consumption of a good within each bundle is the same across bundles. So, for instance, if a bundle offers 5 eggs and 1 dumpling she finds that bundle indifferent to a bundle offering 4 eggs and 5 dumplings. These preferences are transitive. But are they monotone? And convex?

Assume workers in labour market M are qualified to work in an alternative competitive labour market N, and vice versa. What will happen to the wage rate and level of employment in market M if there is an increase in the demand for labour in market N?

CS 11  Economics

Refer to the following table. Suppose strawberries cost $1 and apples cost $2. SHow all the formulas used and your calculations. What is marginal utility (MU) of the 3rd apple? What is marginal utility (MU) of 6th strawberry? What is the marginal utility per dollar spent on the 3th apple? What is the marginal utility per dollar spent on the 6th strawberry? Which of the combinations of strawberries and apples satisfies the following rule? How do you know?

Can you help me answer these questions it's macroeconomics theory

Question 3 (Demand). Carlos really likes pizza. His utility function for Little Caesar's (xi) and Woodstock's (x.) is given by: U(xi, x2) = x;+2x2 The price of x,is $10 and Carlos spends $50 on pizza. a) Graph the demand curve for x1, with pi (the price of x) on the y-axis and x, on the x-axis. (Hint: There will be a range of prices where the demand for x, will be 0). Explain you graph. Page 2

A consumer finds only three products, X, Y, and Z, are for sale. The amount of utility which their consumption will yield is shown in the table below.  Assume that the prices of X, Y, and Z are $10, $2, and $8, respectively, and that the consumer has an income of $74 to spend.   Product X   Product Y   Product Z     Quantity     Utility Marginal Utility per $       Quantity     Utility Marginal Utility per $       Quantity     Utility Marginal Utility per $ 1 42 NA   1 14 NA   1 32 NA 2 82 4   2 26 6   2 60 3.5 3 118 3.6   3 36 5   3 84 3 4 148 3   4 44 4   4 100 2 5 170 2.2   5 50 3   5 110 1.25 6 182 1.2   6 54 2   6 116 0.75 7 182 _0   7 56.4 _1.2   7 120 _0.5_ Why would the consumer not be maximizing utility by purchasing 2 units of X, 4 units of Y, and 1 unit of Z?

Joe is currently in consumer equilibrium by consuming cheese and crackers, such that the last cracker consumed yielded 8 utils and the last piece of cheese consumed yielded 12 utils. Assume the price of crackers is two cents per cracker and the price of cheese is three cents per piece. If the price of crackers increases to four cents, Joe should his consumption of crackers and his marginal utility from crackers will and also his consumption of cheese and his marginal utility from cheese will (Assume he is in the downward sloping portion of the MU curve.) Ο Ο Ο decrease; increase; increase; decrease increase; increase; increase; increase increase; decrease; increase; decrease increase; increase; decrease; decrease