Answer
option 4
steak over chicken
the indifference curves are transitive means the
steak> salmon
salmon > chicken
then
chicken <steak
as the steak is better than both which is also true for IC
Indifference curves do not cross because if you prefer steak over salmon and salmon over chicken...
1. T F Indifference curves can’t cross because people have convex preferences, meaning they like variety. 2. T F Higher indifference curves are preferred to lower indifference curves for people that have monotonic preferences. 3. T F Perfect complements are goods that consumed in a 1:1 ratio. 4. T F If the utility of bundle A is three times as large as the utility of bundle B, it means that we like bundle A three times as much as bundle...
Chapter 4: Extensions of Mendelian Inheritance Help Seve & You cross a rose comb chicken with a peacomb chicken and get all walnut comb progeny. You then cross two of the walnut combed chickens from the F1 generation and get 9 walnut combs: 3 rose combus:3pea combs : 1 single comb. Which of the following would best explain these results? Underline means any allele could be present. For example R could be RR or Rr Skoped Rose comb Pea comb...
The indifference curves in the figure below illustrate Alice's preferences over weekly leisure I and weekly consumption c. Alice has 100 hours each week to allocate between work and leisure activities. If Alice works, she has no nonlabor income, but she earns $10 per hour. (The price of consumption is $1 per unit.) If she doesn't work, she receives government aid in the form of a $400 weekly cash grant. Which indifference curve do we use to determine Alice's reservation...
Juestons lemprod.pea ng.comapvprinten-us/econ Indifference curves are downward sloping because of the assumption of A. transitivity. B. completeness. C. more is better O D. All of the above. 33. Convexity of indifference curves implies that consumers are willing to O A. settle for less of both "x" and "y O B. give up more "y to get an extra x the more "x" they have. O C. give up more "y" to get an extra "x" the less "x" they have....
The indifference curves in the figure below illustrate Alice's preferences over weekly leisure I and weekly consumption c. Alice has 100 hours each week to allocate between work and leisure activities. If Alice works, she has no nonlabor income, but she earns $10 per hour. (The price of consumption is $1 per unit.) If she doesn't work, she receives government aid in the form of a $400 weekly cash grant. EFF Consumption 1400 40 80 20 60 100 120 160...
you will need to draw a diagram containing three indifference curves. Also write a short (1-2 sentence) explanation of why you have drawn each indifference curve Mary gets utility from consuming maple syrup but not mushrooms. Giving her more or fewer mushrooms does not change her total utility level. Place maple syrup on the horizontal axis and mushrooms on the vertical axis.
7. We know that well-defined preferences over two goods have the properties that () indifference curves are negatively sloped, and (ii) that indifference curves are convex (so that chords between two points on the indifference curve lie in the set ((c, y) such that (c,y)(coyo) when (co. o) is a point on the indifference curve). Suppose that good y is "clean air" and good c is consumption of all other goods. This problem gets you to determine what these two...
QUESTION 31 When you observe downward sloping, convex indifference curves, what do you automatically know? That the MRS in absolute value is diminishing. That the utility function is generally written as U(x,y) = ax + by, where a and b are positive constants. That the consumer views the two goods as imperfect substitutes. That the utility function is generally written as U(X,Y) = minax,by), where a and b are positive constants. That the utility function is generally written as U(X,Y)...
__ has NOT been as successful because employees do not have control over the design of the work process. Multiple Choice Quality control Quality assurance Total quality management Quality management viewpoint Continuous quality improvement
QUESTION 30 When you observe downward sloping straight line indifference curves, what do you automatically know? That the MRS is constant. That the consumer views the two goods as perfect substitutes. DODO That the consumer views the two goods as imperfect substitutes. That the consumer views the two goods as perfect complements That the utility function is generally written as U(X ) = ax + by, where a and b are positive constants. That the utility function is generally written...