Answer the following questions using the following information Columns 1 and 2 in the table below show the marginal utiity that Cody gets by purchasing products A and B. Column 3 shows the marginal utity Cody gets from saving Assume that the price of Ais $13 the price of B is $10, and Cody has an income of $129. a) Find the following senes of MU/S for each column. Note: Keep as much precision as possible during your calculations Your final answer should be accurate to at least two decimal places Column 1 Column 2 Column 3 Units of A MU MU/S Units of B MU MU/S Number of S saved MU MU/S 6.8 13 10 0 70 80 6.15 1. 68 1. 0. 2 71 5 46 2. 63 6.3 2 3 3 56 5.6 3 66 5.08 61 4.69 4 4 46 4.6 4. 3 0 54 4 15 3.46 39 3 2.23 4 31 3.1 22 5 40 45 6. 6. 7. 7 22 7 1. 8 29 8. 17 1.7 1 0. b) What quantities of A and B will Cody purchase in maximizing his utility? Quantity of A O Quantity of B.0 c) How many dollars will Cody save? Dollars Saved $0 SAVE AND CLOSE

Answer the following questions using the following information Columns 1 and 2 in the table below show the marginal utiity that Cody gets by purchasing products A and B. Column 3 shows the marginal utity Cody gets from saving Assume that the price of Ais $13 the price of B is $10, and Cody has an income of $129. a) Find the following senes of MU/S for each column. Note: Keep as much precision as possible during your calculations Your final answer should be accurate to at least two decimal places Column 1 Column 2 Column 3 Units of A MU MU/S Units of B MU MU/S Number of S saved MU MU/S 6.8 13 10 0 70 80 6.15 1. 68 1. 0. 2 71 5 46 2. 63 6.3 2 3 3 56 5.6 3 66 5.08 61 4.69 4 4 46 4.6 4. 3 0 54 4 15 3.46 39 3 2.23 4 31 3.1 22 5 40 45 6. 6. 7. 7 22 7 1. 8 29 8. 17 1.7 1 0. b) What quantities of A and B will Cody purchase in maximizing his utility? Quantity of A O Quantity of B.0 c) How many dollars will Cody save? Dollars Saved $0 SAVE AND CLOSE

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Mary is a corn farmer in Iowa. If she does not irrigate her field, she can produce 120 bushels of corn per acre. If she applies 4 inches of irrigation water, she can produce 140 bushels of corn per acre. The application of 8, 12, and 16 inches of irrigation water can result in 160, 180, and 200 bushels of corn per acre, respectively. Graph the relationship between the amount of water applied and corn yield for Mary. What is the slope?
The inflection point refers to the point where a marginal curve has a slope of zero. a. True b. False
Which of the following conditions should hold for an interior optimum? Px MRSXY and PxX + PyY < I Py MUx and MUy should be maximized and Px X + PyY = I Px MRSXY and PxX + PyY = 1 Py MRSXY should be maximized and PxX + PyY = I
Note: don't use chat gpt.
Answer 1 st is incorrect.. don't use chat gpt please..give correct answer it's a last chance
Mary is a corn farmer in Iowa. If she does not irrigate his field, she can produce 120 bushels of corn per acre. If she applies 4 inches of irrigation water, she can produce 140 bushels of corn per acre. The application of 8, 12, and 16 inches of irrigation water can result in 160, 180, and 200 bushels of corn per acre, respectively. Graph the relationship between the amount of water applied and corn yield for Mary (Assume a straight-line relationship). Find and interpret the slope and Y intercept