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1. (a) If an individual's preferences can be represented by
1. (a) If an individual's preferences can be represented by the utility function u(x,y)=15x1/2y, find the demand functions for x and y. If the price of x is \$10, the price of y is \$5, and the individu… read more
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I have a microeconomics question today. Its about budget
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I was wondering how to graph u(x1,x2)=3x1+2x2 corresponding
Hi! I was wondering how to graph u(x1,x2)=3x1+2x2 corresponding to utility levels of 10,20,30 … read more
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I decided to pause on the other question because I need a
Ok I decided to pause on the other question because I need a break and try again later. I moved on to indifference. I need to figure out the utility function U=FC where food and clothing are available… read more
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1. Monifa plans to spend her income on concert tickets and
1. Monifa plans to spend her income on concert tickets and movie tickets. Suppose she has an income of \$100, the price of a concert ticket (Pc) is \$20 and the price of a movie ticket (Pm) is \$10. a. D… read more
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Janice Doe consumes 2 goods, X and Y. Janice has a utility
Janice Doe consumes 2 goods, X and Y. Janice has a utility function given by the expression: U(X,Y)= 4X^.75 Y^.25. the current prices of X and Y are \$25 and \$50 respectively. Janice has an income of \$… read more
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atluriram please assist me. Quiz 9 Monopolistic Competition,
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Microeconomics Quiz 6 Consumer choice, budget constraint 1. The
Microeconomics Quiz 6 Consumer choice, budget constraint 1. The table below shows Jason's TOTAL utility from consuming various quantities of ice cream sandwiches. Quantity 0 1 2 3 4 Total Utility 0 10… read more
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I think i have figured them out in the meantime. i no longer
1. All combinations of goods and services that provide the same utility are identified by the: A) law of constant marginal utility. B) law of increasing marginal utility. C) law of diminishing margina… read more
SuperiorTutor
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16. Utility refers to the a) Usefulness of a product. b) Relative
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1. All combinations of goods and services that provide the
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Derive the demand functions/correspondences for the followin
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1. Bridget has limited income and consumes only wine and cheese;
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Business tutor What is a budget constraint How does a budget
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10. Which of the following statements is incorrect in ...
10. Which of the following statements is incorrect in respect to indifference curves a. The risk-averse investor does not have a preference between any of the portfolios represented by the indifferenc… read more
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