a. Give as many reasons as you can why we believe that indifference curves are convex to the origin. b. If the budget line is  Y=500=pBB+pZZ=5B+10Z, what is the marginal rate of transformation, MRT, between B (burritos) and Z (pizza)?

Q: If the budget line equation is x2 = - 61/4 x1 + 1601/4 What is the price of x₁ ?

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A: Hey champ,Welcome to this platform. Here you will get the answer with better quality in minimum…

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Q: If the budget line equation is x2 = - 61/4 x1 What is the price of x₁ ? + 1601/4

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Q: a & c have already been answered, mainly looking for help on b, d, e and f. Thank you so much!…

A:

Q: Is it possible for marginal utility to be negative while total utility is positive

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A: Approach to solving the question: Detailed explanation: Examples: Key references:

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Marginal Rate of Technical Substitution

MRTS reaches a manufacturer when a part of the product is lowered to sustain the manufacturing level when the other part is extended. It is the level of the quantity that is lowered when one extra volume is used, and the output is unchanged.

Preferences and Utility Analysis

Before understanding what is preference and utility analysis, it is very important to understand the terms preference and utility separately.