Module2_Ch3_The Behavior of Consumers_Problem Set.pdf
Please Answer Question #2 parts a through d
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Suppose Tom consumes only two goods, gasoline and cigarettes. His income is $120, the price of cigarettes per pack is $4 and the price of gasoline per gallon is $2. Currently, he consumes 40 gallons of gas at optimal level
Module2_Ch3_The Behavior of Consumers_Problem Set.pdfa)Sketch the following budget lines. Be sure to show how you calculated the slopes andend points. (Put gason the X axis.))Sketch the following budget lines. Be sure to show how you calculated the slopes andend points. (Put gason the X axis.)
Suppose Peggy consumes only two goods, gasoline and cigarettes. Her income is $120, the price of cigarettes per pack is $4 and the price of gasoline per gallon is $2. Currently, she consumes 40 gallons of gas at optimal level. a) Sketch the following budget lines. Be sure to show how you calculated the slopes and end points. (Put gas on the X axis.). b) What is optimal level consumption of cigarettes for Peggy? Use an arbitrary convex indifference curve,...
Module2_Ch3_The Behavior of Consumers_Problem Set.pdfPlease help answer Question #3
3. [40 points, level-2,-3, and-4] this question involves Level-4 “High language level", Level-3 "Machine language level (ISA)", and Level-2 "Microprogramming level". Use the table on next page to answer the following four questions. (a) [10 points] Translate/Java the C++ code segment (I" column in the table below, Level-4) into Mie- I LJVM machine language (2nd column, Level-3), assuming i, j, and k are the 1st, the 2nd and the 3rd local variables, respectively (b) [10 points) Translate the code in...
The table below shows the price per gallon (in dollars) for a random sample of exterior deck treatments. At a = 0.05, can you reject the claim that the mean price is the same for the three types of treatments? Perform a one-way ANOVA test by completing parts a through d. Assume that each sample is drawn from a normal population, the samples are independent of each other, and the populations have the same variances. 1 8 25 Semitransparent treatments...
A consumer uses his income I for the consumption of two goods ?1 and ?2. He maximises utility at given product prices ?1, ?2. His preferences with respect to both products can be described by an ordinal utility function ?(?1,?2), which exhibits a decreasing marginal rate of substitution (normal preferences). Please indicate whether the following statements are right or wrong in this context. If a statement is wrong, then describe briefly what is wrong (one sentence). a) A double value...
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Question 2 (Three parts) A. A result of seronegative means: a. the person has HIV b. the person has advanced to AIDS c. the person does not have HIV d. none of the above B. AIDS is not a single disease but a set of diseases a. true b. false C. Which of the following are a symptom of AIDS? a. leg cramps b. constipation c. weight loss d. none of the...
Do heavier cars really use more gasoline? Suppose a car is chosen at random. Let x be the weight of the car (in hundreds of pounds), and let y be the miles per gallon (mpg). x 29 44 33 47 23 40 34 52 y 32 20 26 13 29 17 21 14 Complete parts (a) through (e), given Σx = 302, Σy = 172, Σx2 = 12,064, Σy2 = 4036, Σxy = 6066, and r ≈ −0.902. (a) Draw...
1. Socially Optimal Thneed Production (Graphical Analysis) based on Dr. Seuss’ The Lorax. There is only one question, but it has several parts, (a) through (J), below, plus (k) and (l) for extra credit. The demand curve and supply curve for Thneeds (“A fine something that all people need,” according to the Once-ler Group’s web site) are given by QD= 100 –5P and QS = 2.5P – 5 [HINT: these are regular—that is economically sensible—demand and supply curves that say...
please answer 2a(i) only
2. (a) Use Octave as a Calculator to answer this question. Suppose that A and B are two 8 × 9 matrices. The (i, j)-entry of the matrix B is given by i *j - 1. The (i,j)-entry of the matrix A equals 0 if i +j is divisible by and equals the (i,j)-entry of the matrix B otherwise. i. What are the rank and nullity of matrices A and B? ii. Is vector u- [9,...