3 Larry and Michael have preferences over basketballs (B) and footballs (M). Larry's preferences can be described by a utility functionULIn(B) + In(F). Michael's preferences can be described by the utility function UM = BIFI.Which of the following is NOT trueabout Larry and Michael based on this information?O a. If Larry and Michael each had 10 basketballs and 10 football, they would prefer to trade some of their footballs for basketballsO b. Michael likes basketballs more than LarryGiven a choice between two consumption bundles, Larry and Michael will always prefer the same bundleO d. All of these are trueO e.None of these are trueA consumer has a constant MRS of x for y equal to 1/4 for any quantity of x or y. They currently have 100 units of x and 50 units of y. Whichof the following trades would this consumer be willing to accept?O a. Give up 10 units of x to receive 50 units of yO b. Give up 5 units of x to receive 15 units of yGive up 20 units of x to receive 20 units of yO d. They would accept all of these tradesO e. Give up 40 units of x to receive 10 units of y

The Marginal Rate of Substitution (MRS) is a concept in economics that measures the rate at which a…

A consumer has a constant MRS of x for y equal to 1/4 for any quantity of x or y. They currently have 100 units of x and 50 units of y. Which of the following trades would this consumer be willing to accept? O a. Give up 10 units of x to receive 50 units of y O b. Give up 5 units of x to receive 15 units of y O C. Give up 20 units of x to receive 20 units of y O d. They would accept all of these trades O e. Give up 40 units of x to receive 10 units of y

A consumer has a constant MRS of x for y equal to 1/4 for any quantity of x or y. They currently have 100 units of x and 50 units of y. Which of the following trades would this consumer be willing to accept? O a. Give up 10 units of x to receive 50 units of y O b. Give up 5 units of x to receive 15 units of y O C. Give up 20 units of x to receive 20 units of y O d. They would accept all of these trades O e. Give up 40 units of x to receive 10 units of y

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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At a price of $14, country 1 will (a) offer for export 9 units of this product. (b) seek to import 9 units of this product. (c) choose not to trade. (d) increase supply. (e) offer for export 18 units of this product
UNITS OF VARIABLE TOTAL MARGINAL AVERAGE PRICE OF INPUT PRODUCT PRODUCT PRODUCT INPUT TOTAL VARIABLE COST AVERAGE VARIABLE COST TOTAL FIXED TOTAL AVERAGE TOTAL MARGINAL COST COST COST COST 012345678 0 $1 $2 6 $1 2 15 $1 27 $1 37 $1 45 $1 50 $1 52 $1 50 $1 ଖ ଖ ଖ ଖ ଖ ଖ ଖ ଖ ଖ $2 $2 $2 $2 $2 $2 $2 $2
Define the term Expenses?
B. The late Anne Collins had 3 children, Mary, John and Hana who unfortunately all predeceased Anne leaving several Anne's grandchildren and great grandchildren. Unfortunately, Anne died intestate without a will or trust. She is survived by: Mary's daughters Emma and Joan John's son Patrick who has 2 children Joe and Frank; Frank has 1 child Eddy. Hana's daughter Elizabeth is also deceased leaving 2 children Jim and Eva. (i) Please fill in the table taking into consideration that Anne died without a will/trust and therefore the distribution shall be according to the CA intestacy laws (Modified Per Stirpes PC 240). Each Emma and Joan Mary's spouse Each of Patrick's 2 children Joe and Frank Each of Elizabeth's 2 children Jim and Eva Patrick's grandchild Eddy Patrick MPS Ø
Figure A Q Figure B Figure C Price (dollars per unit) 15- Price (dollars per unit) 15 Price (dollars per unit) 15- 14- 13- 12- 11- 10- MC MC 14- 14- 13- 12- 11- 10- „MC ATC 13- 12- 11- 10- ATC ATC MR MR MR 9- 9- 9- 8- 8- 8- 7- 7- 6- 90 100 100 100 1i0 Quantity (units) 90 110 90 110 15 Qua Quantity (units) Quantity (units) Consider a perfectly competitive firm in a short-run equilibrium. Figure shows a firm in bad times because the firm produces units and makes a(n) O A. A; 100; economic loss O B. B; 90; economic profit O C. A; 110; economic loss O D. C; 100; economic loss O E. C; 100; normal profit
Please no written by hand and no emage
Exercise: 01 Issue a promissory note: ⑴Amount ￡3,026.00 ⑵Date and place of issue 8/August/2009，Guangzhou, China ⑶Tenor At 90 days after date ⑷Maker Guangdong Imp. & Exp. Co., Guangzhou ⑸Payee Chemicals Import & Export Company London ⑴Drawer Thames Enterprises Ltd., London ⑵Drawee The National Westminster Bank Ltd., London ⑶Payee Philips Hong Kong ⑷Date and place of issue 07/01/2001，London ⑸Amount GBP79,014 Exercise: 02 Issue a check:
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