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- if the child buys either chocolates or hard candies one piece at a time, what will be his first two purchases?Jien is just bored all the time; no amount of success makes him happy, it seems. Below is a list of his income for the last several years and the utility he experienced per dollar of income: Year Yearly Income Utility per Dollar Earned 2017 $60,000 2 utils 2018 $70,000 1.8 2019 $100,000 1.5 2020 $120,000 1 2021 $145,000 0.40 From the above, we can say that Jien most likely is different from most people economists study in terms of risk attitudes is "risk loving" will not take a fair bet has a utility of wealth curve that is a straight lineEconomics 13_If you have the variable of different colors (color) and their sales value (sales), and see the variances of colors, you write .. Select ..... one: a. sapply(color,sales,var) b. tapply(sales,color,var) c. tapply(var,sales,color) d. sapply(var,color,sales)
- i Xi CTA CONTI 1 2 -0.75 1.30 -1.55 1.25 As a reminder: When calculating answers, please use at least 4 decimals for intermediate calculations. 13579 3 5 4 7 5 Yi -2.50 9If MUx/Muy = Px/Py and X = 10; Y =10; MUx = y/x ; MUy = 1/2find the value of Px and PyIncrease in the price of insulin doesn't effect its Qd whereas a slight increasein price of perfume drops its Qd to zero. Explain.
- Exercise 3 An individual lives two periods, 0 and 1. The income is 14,000 in period 0 and 5,000 in period 1. The individual's marginal utility is: K- Co in period 0 and d8(K – C1) in period 1, where C is the consumption in period 0, C1 the consumption in period 1 and d a discount rate. K is a constant (higher than the consumption in each period). Suppose that the person can save or borrow from the bank from period 0 to period 1 with a 25% interest rate. Set the discount rate & to 0.8. a) How much will the individual consume in the two periods? How much will she save? b) A National Insurance scheme (pension system) is established. The individual must pay 4,500 in period 0 and receives the same amount with interests in addition to her income in period 1. What will the consumption and savings be in the two periods if the National Insurance scheme uses the same interest rate as the bank?1. differentiate f(x)=(4x*+3x)(2x*+2x) Let u(x)=)=(4x*+3x) and v(x)= (2x*+2x)please explain how to solve this; (answers of this question is provided) Asap please... I vll definitely upvote
- Exercise A1 Name three kinds of graphs and briefly state when is most appropriate to use each type of graph.. On a given evening, J. P. enjoys the consumption of cigars (c) and brandy (b) according to thefunctionU (c, b) = 20c - c2 +18b- 3b2.How many cigars and glasses of brandy does he consume during an evening? (Cost is no objectto J. P.)b. Lately, however, J. P. has been advised by his doctors that he should limit the sum of glasses ofbrandy and cigars consumed to 5. How many glasses of brandy and cigars will he consumeunder these circumstances?can you please help me with questions c, d, e and f? Thanks!