Homework Answers
| Quantity | MUm | TUm | MUm/Pm | TUn | MUn | TUn/Pn |
| 1 | 42 | 42 | 42/3= 14 | 20 | 20 | 20/2= 10 |
| 2 | 78-42= 36 | 78 | 36/3= 12 | 20+16=36 | 16 | 16/2= 8 |
| 3 | 108-78= 30 | 108 | 30/3= 10 | 36+12=48 | 12 | 12/2= 6 |
| 4 | 132-108= 24 | 132 | 24/3= 8 | 48+8=56 | 8 | 8/2= 4 |
| 5 | 150-132=18 | 150 | 18/3= 6 | 56+4=60 | 4 | 4/2= 2 |
| 6 | 162-150=12 | 162 | 12/3= 4 | 60+2=62 | 2 | 2/2= 2 |
Marginal utility is the change in total utility when one more unit of good is consumed. MU= TUx - TUx-1
Marginal utility per dollar = MUx/ price of good x
The optimal combination is 5 units of good M and 3 units of good N. It satisfies equi- marginal priniciple of utility as the marginal utility of dollar from last unit of both goods is equal to 6. It satisfies budget constraint also since $3 x 5 + $2 x 3 = $21.
The Table below shows the Total Utility (TU) and Marginal Utility (MU) derived from the consumption...
The Table below shows the Total Utility (TU) and Marginal Utility (MU) derived from the consumption of 10 units of the commodities X and Y. a. Derive a column for the Marginal Utility of x (MU), and a column for the Total Utility of y (TU) b. On separate graphs, plot the Total and Marginal curves for each commodity, placing the panel of the marginal utility curve below the panel for the total utility curve for each commodity saturation and...
Italian Sub Italian Sub Taco Taco Taco Quantity MU MU MU/$4 10 MU/$2 15 MU/$1 30...
Italian Sub Italian Sub Taco Taco Taco Quantity MU MU MU/$4 10 MU/$2 15 MU/$1 30 40 30 2 32 8 24 12 8 24 16 3 20 16 12 - 12 - 5 3 1.5 0.5 5 6 6 2 8 4 6 4 2 12 8 4 - Refer to the table, which lists the values of Harry Taber's marginal utility and marginal utility per dollar for Italian submarine (sub) sandwiches and tacos. Assume that the price of...
Product A Product B 16 12 12 10 8 6 2 4 Quantity per period st st 24 20 (1) Quantity Product A MU per $ (at...
Product A Product B 16 12 12 10 8 6 2 4 Quantity per period st st 24 20 (1) Quantity Product A MU per $ (at $2) Product B MU MU 1 2 3 a) From the graph above, complete columns 2 and 4 of the table above. Round your answers to 2 decimal places. b) If the price of both products is $1, what quantity of each good would Marshall purchase if his budget was $8? Quantity of...
Quantity of Coffee Produced (units) Marginal Cost 0 -- 1 $3 $2 N 3 $1 4...
Quantity of Coffee Produced (units) Marginal Cost 0 -- 1 $3 $2 N 3 $1 4 $2 5 $3 6 $4 7 $5 Northwest Coffee Co. is a firm in a perfectly competitive market. Each time it sells a unit of coffee, it total revenue increases by $4. The marginal cost of producing different quantities of coffee is given the table above. The marginal cost of the profit-maximizing quantity is $2 $3 N O $1 $4
Column 5 Number of Dollars Saved MU MU MU Column 1 Column 2 Column 3 Units of Units of Units of MU Good A Goo...
Column 5 Number of Dollars Saved MU MU MU Column 1 Column 2 Column 3 Units of Units of Units of MU Good A Good B Good C 72.00 24.00 15.00 54.00 15.00 12.00 45.00 12.00 8.00 36.00 4 27.00 5 5.00 18.00 15.00 12.00 8 1.008 Column 4 Units of Good D MU 36.00 30.00 24.00 5.00 18.00 13.00 4.00 Instructions: Enter your answers as whole numbers. a. What quantities of A, B, C, and D will Ricardo purchase...
(5) Fixm 2 1, an integer, and suppose P~ Uniform([0, 1]) and N ~Binomial(m, P) (a) Determine E(Xk...
(5) Fixm 2 1, an integer, and suppose P~ Uniform([0, 1]) and N ~Binomial(m, P) (a) Determine E(Xk(NP) where χκ (n), k-0, 1, 2, . . . , are defined as follows: 1 if n-k 0 otherwise (b) Determine E(Xk(N)h(N)) for a general function h : R R (c) Determine E(PIN) Warning: E(PN) is not N/m as you might be tempted to guess. Hint: Use the law of total probability together with the following result which you showed (in greater...
How to get Z(n)? especially n=2,n=3. Mn) xin) -In 0.5 0.5 (2-m)s I-m)s f4-m)s 3-ms PN 01 2 3 4 2(n) 0.5 Mn) xin) -...
How to get Z(n)? especially n=2,n=3.
Mn) xin) -In 0.5 0.5 (2-m)s I-m)s f4-m)s 3-ms PN 01 2 3 4 2(n) 0.5
Mn) xin) -In 0.5 0.5 (2-m)s I-m)s f4-m)s 3-ms PN 01 2 3 4 2(n) 0.5
QUESTION 3 Figure Price Supply P K I P" P B M N Demand Quantity Refer...
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...
Tu 3 Countries over Exercise # 2: Plot the probability mass function (PMF) and the cumulative dis...
please solve this questions using matlab.
tu 3 Countries over Exercise # 2: Plot the probability mass function (PMF) and the cumulative distribution function (CDF) of 3 random variables following (1) binomial distribution [p,n), (2) a geometric distribution [pl, and (3) Poisson distribution [a]. You have to consider two sets of parameters per distribution which can be chosen arbitrarily. The following steps can be followed: Setp1: Establish two sets of parameters of the distribution: For Geometric and Poisson distributions take...
1. X ~ N(mu = 3,sigma=10) Y=2X+4 E(Y) = ? 2. X ~ N(mu = 3,sigma=10)...
1. X ~ N(mu = 3,sigma=10) Y=2X+4 E(Y) = ? 2. X ~ N(mu = 3,sigma=10) Y=2X+4 V(Y) = ? 3. If X and Y are independent then E(XY) =E(X)*E(Y) True or False? 4. If Cov(X,Y) = 0 then X and Y are independent True or False? 5. If Y_1 ~ N( 1, sigma =2) and Y_2 ~ N(-2, sigma^2 = 16) and Y_1 is independent of Y_2. If l = 2Y_1 - 3Y_2 find E(l) 6. If Y_1 ~...
The Table below shows the Total Utility (TU) and Marginal Utility (MU) derived from the consumption of 10 units of the commodities X and Y. a. Derive a column for the Marginal Utility of x (MU), and a column for the Total Utility of y (TU) b. On separate graphs, plot the Total and Marginal curves for each commodity, placing the panel of the marginal utility curve below the panel for the total utility curve for each commodity saturation and...
Italian Sub Italian Sub Taco Taco Taco Quantity MU MU MU/$4 10 MU/$2 15 MU/$1 30 40 30 2 32 8 24 12 8 24 16 3 20 16 12 - 12 - 5 3 1.5 0.5 5 6 6 2 8 4 6 4 2 12 8 4 - Refer to the table, which lists the values of Harry Taber's marginal utility and marginal utility per dollar for Italian submarine (sub) sandwiches and tacos. Assume that the price of...
Product A Product B 16 12 12 10 8 6 2 4 Quantity per period st st 24 20 (1) Quantity Product A MU per $ (at $2) Product B MU MU 1 2 3 a) From the graph above, complete columns 2 and 4 of the table above. Round your answers to 2 decimal places. b) If the price of both products is $1, what quantity of each good would Marshall purchase if his budget was $8? Quantity of...
Quantity of Coffee Produced (units) Marginal Cost 0 -- 1 $3 $2 N 3 $1 4 $2 5 $3 6 $4 7 $5 Northwest Coffee Co. is a firm in a perfectly competitive market. Each time it sells a unit of coffee, it total revenue increases by $4. The marginal cost of producing different quantities of coffee is given the table above. The marginal cost of the profit-maximizing quantity is $2 $3 N O $1 $4
Column 5 Number of Dollars Saved MU MU MU Column 1 Column 2 Column 3 Units of Units of Units of MU Good A Good B Good C 72.00 24.00 15.00 54.00 15.00 12.00 45.00 12.00 8.00 36.00 4 27.00 5 5.00 18.00 15.00 12.00 8 1.008 Column 4 Units of Good D MU 36.00 30.00 24.00 5.00 18.00 13.00 4.00 Instructions: Enter your answers as whole numbers. a. What quantities of A, B, C, and D will Ricardo purchase...
(5) Fixm 2 1, an integer, and suppose P~ Uniform([0, 1]) and N ~Binomial(m, P) (a) Determine E(Xk(NP) where χκ (n), k-0, 1, 2, . . . , are defined as follows: 1 if n-k 0 otherwise (b) Determine E(Xk(N)h(N)) for a general function h : R R (c) Determine E(PIN) Warning: E(PN) is not N/m as you might be tempted to guess. Hint: Use the law of total probability together with the following result which you showed (in greater...
How to get Z(n)? especially n=2,n=3.
Mn) xin) -In 0.5 0.5 (2-m)s I-m)s f4-m)s 3-ms PN 01 2 3 4 2(n) 0.5
Mn) xin) -In 0.5 0.5 (2-m)s I-m)s f4-m)s 3-ms PN 01 2 3 4 2(n) 0.5
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...
please solve this questions using matlab.
tu 3 Countries over Exercise # 2: Plot the probability mass function (PMF) and the cumulative distribution function (CDF) of 3 random variables following (1) binomial distribution [p,n), (2) a geometric distribution [pl, and (3) Poisson distribution [a]. You have to consider two sets of parameters per distribution which can be chosen arbitrarily. The following steps can be followed: Setp1: Establish two sets of parameters of the distribution: For Geometric and Poisson distributions take...
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