2) 250-1p
1p = 250-q
p = 250-q
When D = 0, p = 250
CS = 0.5*200*(250-50)+50*200 = 100*200 +50*200= 20000+10000 = 30000
4) Net CS = 30000-10000 = 20000
e See page 255 17 Question (4 points) Penelope is a big fan of dining out...
01 Question (3 points) e See page 74 Using the diagram below, answer the following questions. Both x1 and x2 are "goods." Indifference Curves Budget Line V 1st attempt Part 1 (1 point) See Hint Which of the labeled bundles on the diagram are affordable (i.e., would not cost more than the consumer's income)? Choose one or more: ОА 0 0 0 0 Part 2 (1 point) See Hint Which of the labeled bundles would be the most preferred bundle...
USLUIT (2 points) See page 246 Although Goldman Sachs paid Heather $100,000.00 per year, she was not satisfied with her job. She had loved going white-water rafting and skiing with her family in Utah since she was a little girl. So last year, she decided to open her own business: Family Adventures. During the summer, she takes families on different white water trips, and in the winter, she leads clients on skiing trips. To start her business, Heather borrowed $100,000...
11 Question (17 points) See page 149 Arlo is very health-conscious and consumes only two goods, rice cakes and quinoa. His utility function is uír,q) = req, where r is the number of packs of rice cakes he consumes and q is ounces of quinoa. The price of a pack of rice cakes is $4, and the price of an ounce of quinoa is $8. Arlo has $720 to spend this week on these two goods. Suppose that the price...
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See page 247 07 Question (2 points) The reaction of CH3OH) with Nyle) to give HCN), NH3le, and Ole) requires 164 kJ/mol of CH3OHC). 1st attempt Part 1 (0.7 point) In See Periodic Table See Hint Write a balanced chemical equation for this reaction. Include the phases of all species in the reaction. X X He a d 8. Should the thermal energy involved be written as a reactant or as a product? Choose one: product reactant Part 3 (0.7...
05 Question (17 points) @ See page 149 Arlo is very health-conscious and consumes only two goods, rice cakes and quinoa. His utility function is ulr, q) = r2q, wherer is the number of packs of rice cakes he consumes and q is ounces of quinoa. The price of a pack of rice cakes is $5, and the price of an ounce of quinoa is $10.Arlo has $900 to spend this week on these two goods. Suppose that the price...
06 Question (3 points) e See page 149 Douglas consumes two goods, x and y. His utility function is u(x, y) = (x + y. In the questions below, give your answers to two decimal places. 1st attempt Part 1 (1 point) See Hint Let the price of good x be $2 and the price of good y be $10. Furthermore, assume that Douglas has $360.00 to spend on these two goods. How much of good x does Douglas demand?...
@ See page 74 02 Question (5 points) Hugo carefully divides his spending into things he needs and things he wants, and he has quasilinear preferences over both goods. His preferences can be represented by the function u(x, y) = 4x + y, where x represents needs and y represents wants. Hugo faces a price of $12 for needs and $36 for wants; he has income of $180. 1st attempt Part 1 (2 points) O See Hint The graph below...
01 Question (4 points) See page 139 A consumer has a utility function given by u(x,y) - min(x, y). The price of an is $4, and the price of yis 54. The consumer has $4800 to spend on these two goods. In the questions below. give your answers to two decimal places 1st attempt Part 1 (2 points) See Hint The optimal bundle is units of and units of y Part 2 (2 points) See Hint Now suppose that the...