1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
pickupchik [31]
3 years ago
12

In each of the following examples, a consumer purchases just two goods: x and y. Based on the information in each of the followi

ng parts, sketch a plausible set of indifference curves (that is, drawat least two curves on a set of labeled axes, and indicate the direction of higher utility). Also, writedown a utility function u(x, y) consistent with your graph. Note that although all these preferencesshould be assumed to be complete and transitive (as required for utility representation), not all will bemonotone.(a) Jessica enjoys bagels x and coffee y, and consuming more of one makes consuming the other more enjoyable.(b) Plamen loves mocha swirl ice cream x, but he hates mushrooms y.(c) Jennifer likes Cheerios x, and neither likes nor dislikes Frosted Flakes y.(d) Edward always buys three white tank tops x for every pair of jeans y.(e) Nancy likes both peanut butter x and jelly y, and always gets the same additionalsatisfaction from an ounce of peanut butter as she does from two ounces of jelly.

Mathematics
1 answer:
SOVA2 [1]3 years ago
8 0

The question is:

In each of the following examples, a consumer purchases just two goods: x and y. Based on the information in each of the following parts, sketch a plausible set of indifference curves (that is, draw at least two curves on a set of labeled axes, and indicate the direction of higher utility). Also, writedown a utility function u(x, y) consistent with your graph. Note that although all these preferences should be assumed to be complete and transitive (as required for utility representation), not all will be monotone.

(a) Jessica enjoys bagels x and coffee y, and consuming more of one makes consuming the other more enjoyable.

(b) Plamen loves mocha swirl ice cream x, but he hates mushrooms y.

(c) Jennifer likes Cheerios x, and neither likes nor dislikes Frosted Flakes y.

(d) Edward always buys three white tank tops x for every pair of jeans y.

(e) Nancy likes both peanut butter x and jelly y, and always gets the same additional satisfaction from an ounce of peanut butter as she does from two ounces of jelly.

Step-by-step explanation:

The utility functions consistent with the graphs are:

(a) u(x, y) = xy

(b) u(x, y) = x - y

(c) u(x, y) = x

(d) u(x, y) = min(x, 3y)

See attachments for the graphs.

You might be interested in
What are the coordinates of the vertex?
faltersainse [42]
(-2,8) is the answer





5 0
3 years ago
Read 2 more answers
Which answer correctly estimates the product of 79.623 × 4.83?
mamaluj [8]
The answer to this is 384.57909
6 0
3 years ago
Find the complete factorization of
notsponge [240]
<h3>Option C is correct</h3>

<h3>Let us see the verification;</h3>

6x {}^{3}  - 15x {}^{2}  - 9x \\ 3x(2x {}^{2} - 5x - 3)  \\ 3x( 2x {}^{2}  + x - 6x - 3) \\ 3x(x(2x + 1) - 3(2x - 1) \\ (2x + 1)

<h2>Hence, Proved ✔︎</h2>

5 0
3 years ago
2x -y +z = 7<br> 2x + 4y - 2z = 0<br> x-y + 3z = 2
djyliett [7]
The first one y = 2/3
8 0
3 years ago
Read 2 more answers
20 POINTS!!
yaroslaw [1]
This is the answer. I did it and got that. You do distributive and then combine like terms.

7 0
3 years ago
Other questions:
  • A quadrilateral has vertices A(11, -7), B(9, -4), C(11, -1), and D(13, -4).
    10·2 answers
  • I WILL GIVE BRAINLIEST ANSWER TO FIRST/CORRECT PERSON
    11·2 answers
  • What is the answer to the equation 4×-5=3×-1?
    5·1 answer
  • What’s the answer I really need help????
    7·2 answers
  • On a coordinate plane, a curved line crosses the x-axis at (negative 1, 0) and crosses the y-axis at (0, 0.25). The line exits t
    6·1 answer
  • What is the Slope= 7, (3,9)
    9·1 answer
  • 2.3m=0.46 in a word sentence
    12·2 answers
  • If John ran a 40 yard dash, how far did he run in decimeters?​
    6·1 answer
  • A game used a standard of six sided dice what is the probability it will be a five<br>​
    11·1 answer
  • The volume of a sphere is 4,500π cubic yards. What is the radius of the sphere?
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!