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![3. If MU,1/Px1 > MU,2/PX2 is the consumer maximizing his utility?
Explain how to maximize it if your answer is no?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F30bd4618-4cdc-44e1-8521-b2e527af53f5%2F67e2691d-6769-46c0-91de-205e4065e399%2F22o34j8_processed.jpeg&w=3840&q=75)
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- At the current combination of X and Y the consumer's MU-7 and MU, 4. If Px=3 and Py=2, is the consumer maximizing their satisfaction? If not, explain in detail what the consumer should do, and illustrate.U(x, y) = xayb A consumer maximises utility subject to a budget constraint M = Pxx+Pyy Where px is the price of good x, py is the price of good y and M is the budget available. a. Derive an expression for the marginal utility of x. Under what condition is the marginal utility diminishing. b. Derive an expression for the marginal utility of y. Under what condition is the marginal utility diminishing.Mylie's total utility from singing the same song over and over is 70 utils after one repetition, 110 utils after two repetitions, 140 utils after three repetitions, 160 utils after four repetitions, 120 utils after five repetitions, and 60 utils after six repetitions, as shown in the table below. a. Write down her marginal utility for each repetition. Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Repetitions 0 1 2 3 4 5 6 Total Utility Marginal Utility 0 70 110 140 160 120 60 b. Once Mylie's total utility begins to decrease, does each additional singing of the song hurt more than the previous song or less than the previous song? O More than the previous song O Less than the previous song
- I need help checkin my own answers to this homework question as im not sure of my own answers. The info for the question is attached the question: How much X and Y should the consumer purchase in order to maximize her utility? i got x =4.5 and y =18. is that correct?If Utility=.5lnX+3Z+10+4VW then Marginal utility from X is...... and the Mu of Z is...... Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a b с 10; 3 3,4 5/X; 3 d 2/VW; 3Mylie’s total utility from singing the same song over and over is 50 utils after one repetition, 90 utils after two repetitions, 120 utils after three repetitions, 80 utils after four repetitions, 20 utils after five repetitions, and -60 utils after six repetitions, as shown in the table below. a. Write down her marginal utility for each repetition. Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Repetitions Total Utility Marginal Utility 0 0 — 1 50 2 90 3 120 4 80 5 20 6 -60
- 1. Is it impossible for two indifference curves to intersect one another? why? 2. What does it mean that preferences are complete? Now would the real-life implica- tions of this assumption look like?The primary goal of very consumer is to maximize satisfaction. Explain, how a consumer achievesequilibrium using:a) Indifference curve analysisb) Marginal Utility theoryTrue/False Marginal utility keeps falling with the each additional consumption of a good or service.
- After Marc consumed his second cup of coffee, which gave his 15 units of satisfaction, his total utility is 40. From this we can deduce that Marc’s marginal utility is a) zero b) positibe c) negative d) increasingQ50 Marginal utility analysis predicts a downward-sloping demand curve for good X because... a. As PX rises, the consumer increases purchases of X such that MUX/PX is equal to MU/P for all other products. b. As PX falls, the ratio MUX/PX becomes smaller, causing the consumer to purchase more of good X. c. As PX falls, the consumer increases purchases of X until MUX/PX is equal to MU/P for all other products. d. Utility-maximising consumers equate the marginal utility received for each product consumed. e. All demand curves are downward sloping, regardless of the behaviour of consumers.Pencils sell for 10 cents and pens sell for 50 cents. Suppose Jack, whose preferences satisfy all of the basic assumptions, buys 5 pens and one pencil each semester. With this consumption bundle, his MRS of pencils for pens is 3. Which of the following is true? a. Jack could increase his utility by buying more pens and fewer pencils. b. Jack could increase his utility by buying more pencils and fewer pens. c. Jack could increase his utility by buying more pencils and more pens. d. Jack could increase his utility by buying fewer pencils and fewer pens. Please explain with details. Thank you so mcuh
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