Please show and explain the solution
Homework Answers
Request Answer!
We need at least 10 more requests to produce the answer.
0 / 10 have requested this problem solution
The more requests, the faster the answer.
Add Answer to:
Please show and explain the solution
1. John likes 2 sugar packets (S) in his coffee...
HW1.1 #8. Peter also likes coffee (x) with sugar (y), but his utility function is U(x,...
HW1.1 #8. Peter also likes coffee (x) with sugar (y), but his utility function is U(x, y) = 5x + 4y. Peter has purchased 4 ounces of coffee and 5 grams of sugar. Recall Peter of problem #8 of homework 1.1. His utility function is u(x, y) = 5x + 2y where x is the number of ounces of coffee and y is the quantity of sugar in grams. Let unit prices be given by Px = 6 cents, Py...
please answer the first four subparts 3.2) (10 points) Jane likes to have Tea (T) with...
please answer the first four subparts
3.2) (10 points) Jane likes to have Tea (T) with Cookies (C). She always has 4 cookies for every cup of tea. 3.2.) 3 points) Draw 2 indifference curves that describe her preferences with Cookies (C) on the horizontal axis and Tea (T) on the vertical axis. 3.2b) (3 points) What is her utility function that would represent her preferences? Her utility function: U(CT) - 3.2c) (4 points) If the price of a cup...
Statistic Q1(a) Mr. Sweetheart likes sugar in his hot tea. He buys sugar packets from a...
Statistic Q1(a) Mr. Sweetheart likes sugar in his hot tea. He buys sugar packets from a local grocery store. Suppose the amount of sugar in a packet follows a normal distribution with mean 2.17 grams and standard deviation 0.08 grams. The amount of sugar in a package should be between 2.13 and 2.21 grams. Otherwise, a packet is considered to be defective. i. What is the probability that a randomly selected packet is defective? ii. Three sugar packets are chosen...
Mary considers spoonfuls of sugar (S) and spoonfuls of medicine (M) to be perfect substitutes and...
Mary considers spoonfuls of sugar (S) and spoonfuls of medicine (M) to be perfect substitutes and always requires 4 spoonfuls of sugar to be willing to give up 2 spoonfuls of medicine (Notice that it means the spoonful of medicine is more valuable for Mary than the spoonful of sugar). Suppose sugar costs $2 per spoonful and medicine costs $3 per spoonful. Mary's income is $18. Which of the following expresses Mary's utility function and optimal consumption bundle? A. U(S,M)...
Exercise 2: Maximizing utility with perfect substitutes. (50 pts) Bill likes both Red Bull (x1) and...
Exercise 2: Maximizing utility with perfect substitutes. (50 pts) Bill likes both Red Bull (x1) and Monster (x2) energy drinks. Both help him stay awake to finish his microeconomics homework, so they’re perfect substitutes in that sense (though Monster cans are larger). His preferences over the drinks can be represented by utility function U(x1, x2) = 5x1 + 4x2. (b) What’s Bill’s optimal (x1, x2) choice given his preferences, income, and the prices of the two goods. (c) What is...
John has preferences for food F and clothing C described by a utility function U(F,C) =...
John has preferences for food F and clothing C described by a utility function U(F,C) = min (F, 2C). Suppose that food costs $1 a unit and that clothing costs $2 a unit. John has $12 to spend on food and clothing. (10 pts.) a) On a graph, draw indifference curves corresponding to u = 6, u = 10, u = 14. Make sure to label coordinates clearly. Using the graph, find the optimal choice of food and clothing. Let...
PLEASE SHOW WORK The standard enthalpy of solution for KCl(s) dissolving in water to form 1...
PLEASE SHOW WORK
The standard enthalpy of solution for KCl(s) dissolving in water to form 1 m solution of aqueous K^+ and Cl^- ions, delta H^0 _soln = +17.2 kJ/mol. Using a coffee calorimeter, 0.15 moles of KCl(s) were dissolved in 150 mL of water. The initial water temperature was 25 C. What would be the final temperature? A 4C B 21 C C 25 C D 29 C E 42.2 C
Vasco likes spare ribs q1, and fried chicken, q2. His utility function is U=10q1^2 * q2....
Vasco likes spare ribs q1, and fried chicken, q2. His utility function is U=10q1^2 * q2. His weekly income is $90, which he spends on ribs and chicken only. a. If he pays $10 for a slab of ribs and $5 for a chicken, what is his optimal consumption bundle? Show his budget line, indifference curve, and optimal bundle, e1, in a diagram. b. Suppose the price of chicken doubles to $10. How does his optimal consumption of chicken and...
Nick is an investor who likes to hedge his bets. His wealth is $5,760,000, but in the case of a s...
please explain the part d
Nick is an investor who likes to hedge his bets. His wealth is $5,760,000, but in the case of a stock market crash (which occurs with a probability of 1/6), his wealth will be reduced to $360,000. His utility is U(w)- W1/. a) Find Nick's expected utility and expected wealth. (b) Which amount of money would Nick need to have for sure to be at least as well off as with the uncertainty? How much...
luel 0 graae your solutions and understand your answers please show your work.The grader will choose randomly two q...
luel 0 graae your solutions and understand your answers please show your work.The grader will choose randomly two questions and grade only those two questions. Since the choice of questions to be graded is ez-post I do recommend that you solve thoroughly all the questions Problem 1 (25 Points) John has the following utility function that represents his preferences over food (a) and housing (u) (his only two expenses): and marginal utilities: for a level of wealth W and prices...
please answer the first four subparts
3.2) (10 points) Jane likes to have Tea (T) with Cookies (C). She always has 4 cookies for every cup of tea. 3.2.) 3 points) Draw 2 indifference curves that describe her preferences with Cookies (C) on the horizontal axis and Tea (T) on the vertical axis. 3.2b) (3 points) What is her utility function that would represent her preferences? Her utility function: U(CT) - 3.2c) (4 points) If the price of a cup...
John has preferences for food F and clothing C described by a utility function U(F,C) = min (F, 2C). Suppose that food costs $1 a unit and that clothing costs $2 a unit. John has $12 to spend on food and clothing. (10 pts.) a) On a graph, draw indifference curves corresponding to u = 6, u = 10, u = 14. Make sure to label coordinates clearly. Using the graph, find the optimal choice of food and clothing. Let...
PLEASE SHOW WORK
The standard enthalpy of solution for KCl(s) dissolving in water to form 1 m solution of aqueous K^+ and Cl^- ions, delta H^0 _soln = +17.2 kJ/mol. Using a coffee calorimeter, 0.15 moles of KCl(s) were dissolved in 150 mL of water. The initial water temperature was 25 C. What would be the final temperature? A 4C B 21 C C 25 C D 29 C E 42.2 C
please explain the part d
Nick is an investor who likes to hedge his bets. His wealth is $5,760,000, but in the case of a stock market crash (which occurs with a probability of 1/6), his wealth will be reduced to $360,000. His utility is U(w)- W1/. a) Find Nick's expected utility and expected wealth. (b) Which amount of money would Nick need to have for sure to be at least as well off as with the uncertainty? How much...
luel 0 graae your solutions and understand your answers please show your work.The grader will choose randomly two questions and grade only those two questions. Since the choice of questions to be graded is ez-post I do recommend that you solve thoroughly all the questions Problem 1 (25 Points) John has the following utility function that represents his preferences over food (a) and housing (u) (his only two expenses): and marginal utilities: for a level of wealth W and prices...
Most questions answered within 3 hours.
-
Calculate the concentration of hydronium and hyroxide ions in 1)
2.0 mol/L HNO3 2) 0.5 mol/L...
asked 21 minutes ago -
In a loop-the-loop ride a car goes around a vertical, circular
loop at a constant speed....
asked 21 minutes ago -
50 grams each of water (18.015 g/mol) and ethylene glycol
(C2H6O2) (62.07 g/mol) are mixed. At...
asked 25 minutes ago -
The life expectancy of sport utility vehicles follows a normal
distribution with a mean of 145.8...
asked 48 minutes ago -
If an object with mass of 5 kg is pushed with a force of 552 N,...
asked 27 minutes ago -
Suppose your program already has a list called nums, which
contains several numbers. Write a for...
asked 39 minutes ago -
A spherical shell with a finite thickness just barely floats in
water. If the shell is...
asked 39 minutes ago -
Explain in detail whether the following is true or false:
Total factor productivity will rise only...
asked 46 minutes ago -
A firm pays a $2.50 dividend at the end of year one
(D1), has a stock...
asked 48 minutes ago -
The waiting time in line at an ice cream shop has a uniform
distribution between 0...
asked 1 hour ago -
The term “corporatization” is often used in the former socialist
economies to describe
changing the way...
asked 1 hour ago -
what sort of treatment is planned for a barrel of wine to be
"aged" for sale?...
asked 1 hour ago