Solve the system algebraically.4x - 2y = 263x + 7y = - 57.....Select the correct choice below and, if necessary, fill in the answer box tocomplete your choice.O A. The solution is x=and y =(Simplify your answer.)O B. There are infinitely many solutions of the form x =and y =r.(Simplify your answer. Type an expression using r as the variable.)O C. There is no solution.

Given equations: 4x - 2y = 26 3x + 7y = -57 Solving the equation for the value of x and y:- 4x -…

Answered: 4x - 2y = 26 3x + 7y = - 57 .....…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Choose the right answers. (A) The infant mortality rate Measures the proportion of children who died between O and 1 year, inclusive. (B) The infant mortality rate Measures the proportion of children who have died and are less than one year old. O C) The infant mortality rate is the percentage of children who have died and are under one year of age (D) The infant mortality rate measures the proportion of children under the age of 5. 2) true or false The gross mortality rate in a country is always consistent with life expectancy in that country.
4. Consider a society that has three individuals - 1,2 and 3 - and three alternatives - x, y and z. The society has a preference aggregation rule F. In year 2007, the profile of individual preferences were as follows: 1 2 3 X y Z y Z V It is known that the rule F satisfies Completeness, Transitivity, Anonymity, Unanimity and Independence of Irrelevant Alternatives. Also, in year 2007, F ranked x strictly above y. Now, we are in year 2008. The individual preferences have changed to: 1 2 3 Z y y X Z Z y X x (a) How does the society rank between y and x in 2008? Why? (b) How does the society rank between x and z in 2008? Why? (c) How does the society rank between y and z in 2008? Why? (d) What were the social preferences over all three alternatives in 2007?
. Explain the interpretation of a utility function and why such a function should be increasing. is said that the utility function of a decision maker is given by Ua(x) = 2ax – x², r € R for some a > 0.For which lotteries with random outcomes X is the above function a utility function? Explain your answer and give an example of a lottery or specify a distibution of the random variable X for which the function mentioned in relation 2 is not a utility function. 3. Consider a decision maker with initial wealth 0 and this decision maker needs to play a lottery L having a random outcome X bounded above by a > 0. This means P(X 0 be given and L a lotery with random outcome X having cumulative distribution function if r a and assume that the utility function of the decision maker having initial wealth w = 0 is given by the function uq listed in relation 2. Compute the expected utility of this lottery and the certainty equivalence of this lottery.
Multiple Choice O O point 3 to point 4. point 2 to point 5. O point 1 to point 3. Opoint 1 to point 2.
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Q5
i need the answer quickly
Give typing answer with explanation and conclusion Consider a good or service where consumers pay more than its actual valuation (for eg, products with markup prices at retail significantly higher than their cost: greetings cards, bottled water, stock price, movie theatre popcorn/candy). Based on the irrational decision-making and marginal analysis, explain why such irrational decision-making could take place in this situation.
4
The figure below show the initial optimal point of a family who has to decide how much kids (K) to have in 5 years and at the same time how much of all other goods to consumer (measured as composite good in dollars). Now assuming that kids are inferior goods/services, show the new optimal point as e2 if the income of the family increases. IC₁ to K
In the standard notation of our revealed preference analysis, suppose p^cC < p^CA < p^cB and p3cB < pBcC. Select one: Select one: a. These conditions are consistent with well-behaved preferences and imply only that situation A is revealed weakly preferred to situation C. b. These conditions are consistent with well-behaved preferences but tell us nothing about the preference ranking of the three situations. O c. These conditions are not mutually consistent with well- behaved preferences. O d. These conditions are consistent with well-behaved preferences and imply that situation C is revealed weakly preferred to situation B and situation A is revealed weakly preferred to situation C.
When the second order derivative of a function is greater than zero than the agent is risk lover. question; Asses the risk attitude of an agent represented by the expected utility function u(x)= 2x2-5. However my course material writes that this agent is risk neutral because it is affine. My question is that whys is this so despite the fact that the second order derivative is '4' which is >0. Kindly explain this to me with complete steps.

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