K. The optimal point is the tangency of the indifference curve and the budget line. Point K is the consumer utility maximization point.
QUESTION 1 Quantity of y Quantity of x Use the above figure. The optimal position for...
Question 2 1 pts Figure 8-1 1 Price Supply Demand Quantity Refer to Figure 8-1. Suppose the government imposes a tax of p'-P". The consumer surplus after the tax is measured by the area J+K+1 OJ OM L+M+Y
Quantity of Y Quantity of Y Quantity of X Figure A Quantity of X Figure B Quantity of Y Quantity of Y Quantity of X Figure C Quantity of X Figure D 17) Consider the indifference maps shown above. If X and Y are perfect substitutes, your indifference curves between them would look like those in A) Figure A. B) Figure B. C) Figure C. D) Figure D. CDs (number per year) 5 10 15 20 25 DVDs (number per...
Question 13 1 pts The following graphs shows eight different budget constraints (from A to H) for a consumer who consumes Fish and/or Chips. Which of the following illustrates how the budget constraint will change if the price of Fish were to decrease? Fish Fish D B c A 0 Chips Chips Fish Fish G H F 0 Chips Chips Cto D D to C Fto E E to F Question 20 1 pts Refer to the graph below where...
QUESTION 3 Figure Price Supply P K I P" P B M N Demand Quantity Refer to Figure. If the government imposes a tax size of P- P" in the above market then the area L+M+Y represents a. consumer surplus after the tax. producer surplus after the tax. Cconsumer surplus before the tax. producer surplus before the tax. QUESTION 4 4 point Figure Supply Dennd Quantity Q1 02 Q3 Q Qs Refer to Figure. If the government impose a tax...
Question 2
Question 2 (15 pts) A consumer has preferences represented by the utility function u(x,y) -xlyi. (This means that a. What is the marginal rate of substitution? b. Suppose that the price of good x is 2, and the price of good y is 1. The consumer's income wWhat is the optimal quantity is 20. What is the optimal quantity of x and y the consumer will choose? c. Suppose the price of good x decreases to 1. The...
Question 6 1 pts Figure 3.1 D3 D2 Quantity (fruit snacks In the figure above, which movement reflects a decrease in quantity demanded but NOT a decrease in demand? O from point a to point d O from point a to point e O from point a to point b O from point a to point c
QUESTION 25 Figure: The figure below indicates a tax size of AB. 1 Price + Supply + + Demand + + + + + + + + + + 5 10 15 20 25 30 35 40 45 50 55 60 Quantity Refer to Figure 8-7. Which of the following statements is true about tax incidence? a. Buyers pays less tax then the sellers b. Buyers and sellers share the same burden of tax. C. Buyers and sellers both will...
Figure 5-6 Good X Good Y Good Z Price Price Price Demand Quantity Quantity Quantity Refer to Figure 5-6. Identify the two goods which are substitutes. O It is not possible to distinguish any relationship among the goods. O Good X and Good Y O Good X and Good Z O Good Y and Good Z
QUESTION 29 Price $15 S 7 5 4 8 10 Quantity Using the figure above, calculate the consumer surplus for old customers when the market moves from a price of $7 to $5. $16 O 512 O $2 58
Question. 4 (20%) A uniformly loaded beam of length "L" is supported at both ends. The deflection y(x) is a function of horizontal position x and is given by the differential equation on dEl d1 Beat dE 4() Assume q(x) is constant. Determine the equation for y(x) in terms of different variables. Hint: Use laplace transform. Below are boundary conditions: (L)ono dene y"(o) o no deflection at x= 0 and L no bending moment at x 0 and L y...