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.
1 answer:
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.
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Answer:
option A
Step-by-step explanation:
Let x be the number of television sold
and y be the number of computer sold
An electronics store makes a profit of $72 for every television sold and $90 for every computer sold.
Profit for x television is 72x
Profit of y computer is 90y
Total profit is 72x+90y
sales profit is atleast 360
so inequality becomes 72x+90y >360
graph is attached below
(5,2) lies on the shaded part, so (5,2) is our solution
(3,3) lies on the shaded part, so (3,3) is our solution
(1,4) lies on the shaded part, so (1,4) is our solution
(4,0) (2,2) (1,1) and (1,0) does not lies on the shaded part
So option A is correct
The expression (2/7)x (1.4x² - 3.5y) can be written in the form of a polynomial as 0.4x³ - xy.
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The expression is given below
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The expression in the form of a polynomial is given as
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