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.
Answer:
5005
Step-by-step explanation:
6 C 15
(6, 15)
15! / (6! x 9!)
The answer is 5005
C is just a way to say the order the books are picked in is random and ! means factorial. Factorial is when you multiply all the previous numbers up to the number it is. For example, 5! = 1 x 2 x 3 x 4 x 5 and 2! = 1 x 2
We can write this in math as x+y+z=104, x=y-6, and z=3y
Because we already know what x and z are in terms of y, we can substitute our values for x and z into the first equation. This now looks like (y-6) + y + (3y) = 104. Now we can simplify our equation to find our value for y.
y-6 + y + 3y = 104 simplifies to 5y - 6 = 104, then 5y=110, and finally y=22.
Now that we know our value for y we can find our values for x and z by substituting our value for y into the other two equations.
The second equation x = y-6 can be simplified as x = 22 - 6 and further simplified as x = 16.
The third equation z = 3y can be written as z = 3(22) or z = 66.
Our three numbers are 16, 22, and 66. Hope this helps you!
Answer: V 3
Step-by-step explanation: