Please explain your answer in detail. I have the answer. Suppose goods X and Y are...
Please explain your answer in detail. I have the answer.
Suppose goods X and Y are produced along a production
possibilities frontier 4X2 + Y2 = 500 and
they are perfect substitutes such that U = X + Y. The slope of the
production possibilities frontier is 
. What is this slope
at the utility-maximizing point?
|
a. |
0 |
|
|
b. |
−1 |
|
|
c. |
−4 |
|
|
d. |
−5 |
Homework Answers
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Please explain your answer in detail. I have the answer.
Suppose goods X and Y are...
34 Suppose demand for a good is Qp 100-P and supply is Q -20+ P. What...
34 Suppose demand for a good is Qp 100-P and supply is Q -20+ P. What is the amount conumers pay producers? a. 60 b. 2400 c. 3600 d. 6400 35. Suppose goods X and Y are produced along a production possibilites frensier X0 + 4y- 500 ad y perfect substitutes such that U-X+Y. The slope of the production possibilities frontier is 250 What is the MRTS at the optimal point? a. C.
a. 0 b. 1 c. 50 d. 2 33. All of the following might explain a...
a. 0 b. 1 c. 50 d. 2 33. All of the following might explain a firm offering quantity discounts encerpt a. lower costs of handling large orders. b. an inelastic demand for the good. c. monopoly power in this market. d. existence of some high and some low demand consumers 34. Suppose demand for a good is Qo-100-P and supply is Qs-20+P. What is the amount comsumens py producers? a. 60 b. 2400 С. 3600 d. 6400 Suppose goods...
General Equilibrium: Consider an economy that can produce tacos (X) and hamburgers (Y). Let the production possibilities...
General Equilibrium: Consider an economy that can produce tacos (X) and hamburgers (Y). Let the production possibilities frontier (PPF) be Y2 = 100-4X2 (Eq. 1) or, equivalently ? = √100 − 4?2 (Eq. 2) (for positive values of tacos and hamburgers). This means that the rate of product transformation (RPT), the number of hamburgers that must be given up to get one more taco along the PPF, is − ??/?? = 4?/(√100−4?2) a. Suppose initially that the price of X...
Just need answer,asap upvote graduated! 12) If the utility for two goods Y and Yis measured...
Just need answer,asap upvote graduated!
12) If the utility for two goods Y and Yis measured as U-x + y, then it can be concluded that A)"k" and"y"are both bads. B) x and yare perfect substitutes C) the indifference curves on the xy graph will be upward sloping. D) x and y are perfect complements.
Please explain how Refer to Table 2.xxx. Assume that Bubba's Food Truck only produces burgers and...
Please explain how
Refer to Table 2.xxx. Assume that Bubba's Food Truck only produces burgers and sushi. A combination of 24 burgers and 26 pieces of sushi would appear: Table 2.xxx Production choices for Bubba's Food Truck CHOICE QUANTITY OF BURGERS PRODUCED QUANTITY OF SUSHI PRODUCED 28 24 18 10 0 14 26 34 40 along Bubba's production possibilities frontier inside Bubba's production possibilities frontier outside Bubba's production possibilities frontier at the horizontal intercept of Bubba's production possibilities frontier I...
4.1. Suppose you have two distinct bundles X and Y, and, for you, X is strictly...
4.1. Suppose you have two distinct bundles X and Y, and, for you, X is strictly better than Y. Explain briefly using a graph and words why the two indifference curves associated to two bundles X and Y I(X) and I(Y) cannot cross each other. 4.2. Explain using a graph and words why if the assumption of monotonic preferences (aka "more-is- better") implies that indifference curves are not thick and they must be downward sloped. 4.3. Provide three examples of...
Suppose you have the following utility function U(X.,Y)-min{2X,Y} Let's assume you have $80 to spend between...
Suppose you have the following utility function U(X.,Y)-min{2X,Y} Let's assume you have $80 to spend between goods X and Y and the prices are Px 2 and Py -4 Find the utility maximizing consumption level of X and Y. Please show all your work and provide explanations.
Suppose X and Y are iid Uniform[0,1] random variables. Please explain in detail how you get...
Suppose X and Y are iid Uniform[0,1] random variables.
Please explain in detail how you get the answer for each
question. Thanks.
(7) Suppose X and Y are iid Uniform[0,1random variables. Let U = X and(X the correct answer in each of parts (a), (b), (d), (e) and show your' work in part (c) Circle (а) Р(V - U < 1/2) %3 Jacobjan factor 1/2. 1/8 0. (b) The domain D where the joint density f(U,v(u, v) is defined is...
(Use this information to answer a, b, c below) Suppose Mary’s utility function for two goods...
(Use this information to answer a, b, c below) Suppose Mary’s utility function for two goods X and Y is given by: U(X,Y) = 3X1/2Y1/2 . Suppose consumption bundle A consists of 10 units of X and 30 units of Y, and consumption bundle B consists of 40 units of X and 20 units of Y. a. Consumption bundle A lies on a higher/lower/same indifference curve than consumption bundle B. Show computations. b. Compute Mary’s MRSxy at consumption bundle A....
Q1. Suppose consumer consumes two goods, X and Y. The price of X is P x...
Q1. Suppose consumer consumes two goods, X and Y. The price of X is P x , price of Y is P Y and the consumer income is m. a. Derive and interpret the budget constraint and its slope. b. If slope is -3, how will you interpret it? c. Suppose a government wants to discourage the excessive consumption of X and decides to impose a tax t 1 if someone consume more than X 1 but less than X...
34 Suppose demand for a good is Qp 100-P and supply is Q -20+ P. What is the amount conumers pay producers? a. 60 b. 2400 c. 3600 d. 6400 35. Suppose goods X and Y are produced along a production possibilites frensier X0 + 4y- 500 ad y perfect substitutes such that U-X+Y. The slope of the production possibilities frontier is 250 What is the MRTS at the optimal point? a. C.
a. 0 b. 1 c. 50 d. 2 33. All of the following might explain a firm offering quantity discounts encerpt a. lower costs of handling large orders. b. an inelastic demand for the good. c. monopoly power in this market. d. existence of some high and some low demand consumers 34. Suppose demand for a good is Qo-100-P and supply is Qs-20+P. What is the amount comsumens py producers? a. 60 b. 2400 С. 3600 d. 6400 Suppose goods...
Just need answer,asap upvote graduated!
12) If the utility for two goods Y and Yis measured as U-x + y, then it can be concluded that A)"k" and"y"are both bads. B) x and yare perfect substitutes C) the indifference curves on the xy graph will be upward sloping. D) x and y are perfect complements.
Please explain how
Refer to Table 2.xxx. Assume that Bubba's Food Truck only produces burgers and sushi. A combination of 24 burgers and 26 pieces of sushi would appear: Table 2.xxx Production choices for Bubba's Food Truck CHOICE QUANTITY OF BURGERS PRODUCED QUANTITY OF SUSHI PRODUCED 28 24 18 10 0 14 26 34 40 along Bubba's production possibilities frontier inside Bubba's production possibilities frontier outside Bubba's production possibilities frontier at the horizontal intercept of Bubba's production possibilities frontier I...
4.1. Suppose you have two distinct bundles X and Y, and, for you, X is strictly better than Y. Explain briefly using a graph and words why the two indifference curves associated to two bundles X and Y I(X) and I(Y) cannot cross each other. 4.2. Explain using a graph and words why if the assumption of monotonic preferences (aka "more-is- better") implies that indifference curves are not thick and they must be downward sloped. 4.3. Provide three examples of...
Suppose you have the following utility function U(X.,Y)-min{2X,Y} Let's assume you have $80 to spend between goods X and Y and the prices are Px 2 and Py -4 Find the utility maximizing consumption level of X and Y. Please show all your work and provide explanations.
Suppose X and Y are iid Uniform[0,1] random variables.
Please explain in detail how you get the answer for each
question. Thanks.
(7) Suppose X and Y are iid Uniform[0,1random variables. Let U = X and(X the correct answer in each of parts (a), (b), (d), (e) and show your' work in part (c) Circle (а) Р(V - U < 1/2) %3 Jacobjan factor 1/2. 1/8 0. (b) The domain D where the joint density f(U,v(u, v) is defined is...
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