Just need answer,asap upvote graduated!
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:
Just need answer,asap upvote graduated!
12) If the utility for two goods Y and Yis measured...
Question 16 1 pts A typical indifference curve is negatively sloped because: as we consume more...
Question 16 1 pts A typical indifference curve is negatively sloped because: as we consume more of one good, we are willing to give up the consumption of another good without changing our utility higher indifference curves represent higher levels of utility higher indifference curves represent lower levels of utility we assume that a consumer's income is constant Question 17 1 pts A typical indifference curve: O is convex to the origin (bowed in) has a constant slope is concave...
QUESTION 31 When you observe downward sloping, convex indifference curves, what do you automatically know? That...
QUESTION 31 When you observe downward sloping, convex indifference curves, what do you automatically know? That the MRS in absolute value is diminishing. That the utility function is generally written as U(x,y) = ax + by, where a and b are positive constants. That the consumer views the two goods as imperfect substitutes. That the utility function is generally written as U(X,Y) = minax,by), where a and b are positive constants. That the utility function is generally written as U(X,Y)...
1. True or False, and explain briefly. 1) The assumption that more is better implies that...
1. True or False, and explain briefly. 1) The assumption that more is better implies that the indifference curves are upward sloping 2) Convexity of indifference curves implies that consumers are willing to give up more to get an extra the more they have 3) Consider the following three bundles. Bundle Good Goody If Bundles A and B are on the same indifference curve, preferences satisfy all the usual assumptions introduced in the lecture, Bundle Cis preferred to Bundle A...
QUESTION 30 When you observe downward sloping straight line indifference curves, what do you automatically know?...
QUESTION 30 When you observe downward sloping straight line indifference curves, what do you automatically know? That the MRS is constant. That the consumer views the two goods as perfect substitutes. DODO That the consumer views the two goods as imperfect substitutes. That the consumer views the two goods as perfect complements That the utility function is generally written as U(X ) = ax + by, where a and b are positive constants. That the utility function is generally written...
Suppose a consumer views two goods, X and Y, as perfect complements. Her utility function is...
Suppose a consumer views two goods, X and Y, as perfect complements. Her utility function is given by U = MIN [2X, Y]. Sketch the graph of the consumers indifference curve that goes through the bundle X = 7 and Y = 8. Put the amount of Y on the vertical axis, and the amount of X on the horizontal axis. Which of the three assumptions that we made about consumer preferences is violated in this case?
For each of the following utility functions: Calculate MUx, MUy, MRSx,y; determine whether or not the...
For each of the following utility functions: Calculate MUx, MUy, MRSx,y; determine whether or not the property of “more is better” is satisfied for both goods; determine whether or not the marginal utility of x diminishes, remains constant, or increases as the consumer buys more x; determine whether or not the marginal rate of substitution diminishes, remains constant, or increases as the consumer substitutes x for y along an indifference curve; and sketch the graph of a typical indifference curve....
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...
Sally consumes two goods, X and Y. Her utility function is given by the expression U...
Sally consumes two goods, X and Y. Her utility function is given by the expression U = 2 · XY ^2 . The current market price for X is $10, while the market price for Y is $12. Sally’s current income is $900. a. Sketch a set of two indifference curves for Sally in her consumption of X and Y. b. Write the expression for Sally’s budget constraint. Graph the budget constraint and determine its slope. c. Determine the X,Y...
24. Consider a consumer with a utility function of u(x,y)=xy. (10 total) a) Draw to scale...
24. Consider a consumer with a utility function of u(x,y)=xy. (10 total) a) Draw to scale the consumer's indifference curves for u(x,y)=100 and u(xy)=400. (2) b) Verify the both x and y are "goods" rather than "bads." (3) c) Verify that the law of diminishing marginal rate of substitution holds. (3) d) Suppose that the utility numbers assigned to bundles are determined by the formula (xy) Vxy, instead of u(x,y)= xy. How does the change in the formula change the...
Question 4: Answer the following questions regarding preferences: 4.1. Suppose you have two distinct bundles X...
Question 4: Answer the following questions regarding preferences: 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 bundlesX 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...
Question 16 1 pts A typical indifference curve is negatively sloped because: as we consume more of one good, we are willing to give up the consumption of another good without changing our utility higher indifference curves represent higher levels of utility higher indifference curves represent lower levels of utility we assume that a consumer's income is constant Question 17 1 pts A typical indifference curve: O is convex to the origin (bowed in) has a constant slope is concave...
QUESTION 31 When you observe downward sloping, convex indifference curves, what do you automatically know? That the MRS in absolute value is diminishing. That the utility function is generally written as U(x,y) = ax + by, where a and b are positive constants. That the consumer views the two goods as imperfect substitutes. That the utility function is generally written as U(X,Y) = minax,by), where a and b are positive constants. That the utility function is generally written as U(X,Y)...
1. True or False, and explain briefly. 1) The assumption that more is better implies that the indifference curves are upward sloping 2) Convexity of indifference curves implies that consumers are willing to give up more to get an extra the more they have 3) Consider the following three bundles. Bundle Good Goody If Bundles A and B are on the same indifference curve, preferences satisfy all the usual assumptions introduced in the lecture, Bundle Cis preferred to Bundle A...
QUESTION 30 When you observe downward sloping straight line indifference curves, what do you automatically know? That the MRS is constant. That the consumer views the two goods as perfect substitutes. DODO That the consumer views the two goods as imperfect substitutes. That the consumer views the two goods as perfect complements That the utility function is generally written as U(X ) = ax + by, where a and b are positive constants. That the utility function is generally written...
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...
24. Consider a consumer with a utility function of u(x,y)=xy. (10 total) a) Draw to scale the consumer's indifference curves for u(x,y)=100 and u(xy)=400. (2) b) Verify the both x and y are "goods" rather than "bads." (3) c) Verify that the law of diminishing marginal rate of substitution holds. (3) d) Suppose that the utility numbers assigned to bundles are determined by the formula (xy) Vxy, instead of u(x,y)= xy. How does the change in the formula change the...
Question 4: Answer the following questions regarding preferences: 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 bundlesX 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...
Most questions answered within 3 hours.
-
MAN3240 Organizational Behavior
In one to two paragraphs
6.) How can understanding emotions make me more...
asked 7 minutes ago -
Identify one individual who, in your opinion, is an excellent
leader. List the qualities that this...
asked 4 minutes ago -
For the data set shown below, complete parts (a) through (d)
below. x 3 4 5...
asked 10 minutes ago -
A university administrator working in student housing wants to
determine if the percentage of students residing...
asked 24 minutes ago -
3). Describe human population growth that has occurred in the
past 400 years. Use terms learned...
asked 21 minutes ago -
A
projectile is blue at a target. The distance from the point of
impact to the...
asked 46 minutes ago -
Given a 32 bit processor, with 2 MB of physical RAM split into 512
frames. What...
asked 36 minutes ago -
What were the main rulings in the Supreme Court cases which are
Morgan v. Virginia (1946)...
asked 35 minutes ago -
write a five paragraph essay on how setting,
specifically culture, influences the actions of
the characters...
asked 27 minutes ago -
JAVA
Provide a simple code sample of Merge sort
asked 38 minutes ago -
Discounting cash flows involves:
A. taking the cash discount offered on a trade merchandise
B. estimating...
asked 45 minutes ago -
A solid wood door 1.00 m wide and 2.00 m high is hinged along
one side...
asked 45 minutes ago