Answer:
the question is incomplete:
It happens that the set of consumption bundles (xA,xB) such that Charlie is indifferent between (xA,xB) and (20,5) is the set of all bundles such that xB = 100/xA. The set of bundles (xA,xB) such that Charlie is just indifferent between (xA,xB) and the bundle (10,15) is the set of bundles such that xB = 150/xA.
I also found the attached graph.
The requirements are:
- Is (30,5) ≈ (10,15) true or false?
- Is (10,15) > (20,5) true or false?
- Is (20,5) ≥ (10,10) true or false?
- Is (24,4) ≥ (11,9.1) true or false?
- Is (11,14) > (2,49) true or false?
- A set is convex if for any two points in the set, the line segment between them is also in the set. Is the set of bundles that Charlie weakly prefers to (20,5) a convex set?
- Is the set of bundles that Charlie considers inferior to (20,5) a convex set?
- The slope of Charlie’s indifference curve through a point, (xA,xB), is known as his ______________ ___ of ___________ at that point.
- Find Charlie’s marginal rate of substitution at the point (10,10).
- Find Charlie’s marginal rate of substitution at the point (5,20).
- Find Charlie’s marginal rate of substitution at the point (20,5).
- Do the indifference curves you have drawn for Charlie exhibit diminishing marginal rates of substitution?
Answers:
- true, they are on the same red line
- true, (10,15) is on the red line while (20,5) is on the blue line
- true, they are equivalent since both are on the blue line
- false, (11,9.1) is on the blue line and (24,4) is on the red line
- true, (11,14) is on the red line while (2,29) is on the blue portion
- yes, it is a convex set
- no, they are not a convex set
- The slope of Charlie’s indifference curve through a point, (xA,xB), is known as his <u>RATE</u> of <u>SUBSTITUTIO</u>N at that point.
- marginal rate of substitution at (10,10) = -10/10 = -1
- marginal rate of substitution at (5,20) = -20/5 = -4
- marginal rate of substitution at (20,5) = -5/20 = -1/4 = -0.25
- yes, this curves shows diminishing marginal rates of substitutions, e.g. goes from -4 to -1 to -0.25
Answer:
Hire an external consultant to pick new team members for you
Explanation:
On the given scenario there are limited project spaces and plenty of volunteers for those positions.
An equitable and impartial method of choosing team members needs to be used to avoid conflict.
The best solution is to hire an external consultant who can be seen as impartial to do the selection.
This way employees will accept the objectivity of the selection since the external consultant does not have any underlying.interest in who occupies the project positions
The question provides us with the following scenario: "Neil and Zack are working on a project that requires both research and presentation. Neil is better at research, so he gives the presentation to Zack. " A comparative advantage is when an agent is better at something or can produce something at a lower cost. Here, Neil can do research better, so the answer is: A.) Neil doing the research
Answer:
$293.5 per service
Explanation:
Unit cost is calculated by determining the total cost of the service and dividing numbers of time services been provided.
Total Cost of Service = Operating cost + non- operating cost = $8,000 + $5,500 = $13,500
Number of clients =46 clients
Cost per unit = Total Cost / Number of clients = $13,500 / 46 = $293.5 per client
Unit cost per service is $293.5 per service
Answer:
a Value-Chain Analysis
Explanation:
A value-chain analysis is a model that helps to describe the full range of activities needed to create a product from the conception i.e. the procurement of raw materials, manufacturing functions, marketing and the distribution of the products which leads to an increase in production efficiency so that a company can deliver maximum value for the least possible cost.