Assuming that Mohamed is maximizing his utility. His MUx|Px = 80 and MUy = 600. Then the price of %3D Y must be Select one: O A. 6.5 O B. None of the answers are correct C. 80 O D. 600 O E. 7.5
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![Assuming that Mohamed is
maximizing his utility. His MUx/ Px =
80 and MUy = 600. Then the price of
Y must be
Select one:
A. 6.5
B. None of the answers are
correct
C. 80
D. 600
O E. 7.5](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbfef5fcd-e88a-432a-aa2f-e7893785a6e4%2F1969ea18-4894-4c47-be8a-77a5773ff42a%2Fyo8fmnv_processed.jpeg&w=3840&q=75)
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- Any point above a given indifference curve affordable and is to any point on the indifference curve. O A. might or might not be; inferior O B. is; preferred OC. is not; preferred O D. might or might not be; preferred O E. is not; inferioruppose that the salary range for recent college graduates with a bachelor's degree in economics is $30,000 to $50,000, with 25 percent of jobs offering $30,000 per year, 50 percent offering $40,000 per year and 25 percent offering $50,000 per year and that in all other respects, the jobs are equally satisfying. Assume that in this market, a job offer remains open for only a short time so that continuing to search requires an applicant to reject any current job offer. Moe has just received a job offer that pays $40,000 per year. Moe should: Select one: a. reject the offer regardless of his preference for risk. b. accept the offer if he is risk averse. c. reject the offer if he is risk averse. d. only accept the offer if he is risk-neutral.Q3. The table below depicts the maximum buying prices and minimum selling prices that potential buyers and sellers have for a horse. Assume that a horse is considered to be a good of the first order. Potential Buyer $300 $280 $260 $240 $220 $210 $200 $180 $170 $150 Al A2 A3 A4 AS A6 A7 A8 A9 A10 Potential Seller $100 $110 $150 $170 $200 $215 $250 $260 Bl B2 B3 B4 B5 B6 B7 B8 (a). Based on the original valuations of potential buyers and sellers in the table above, identify the market clearing price that will bring this market to a state of rest. Provide a description of the important properties of this price. (b). Distinguish between the original valuations with which the market participants enter the market and the momentary valuations that prevail when they engage in exchange. Focusing on the potential sellers, explain why each of them would try to align their momentary valuations with the market clearing price? (c). Assume now that trade takes place at a price that is not the market…
- When prices are (5, 3), Connie chooses the bundle (11, 4). When prices are (4, 16), she chooses the bundle (8, 10). Does her behavior violate the weak axiom of revealed preference? O a. yes O b. no O G. we would have to observe a third choice to be able to say O d. we can't tell because we are not told her income in the two cases O e. none of these is correctYou are choosing between two goods, X and Y, and your marginal utility from each is shown in the following table. Units of X MUx Units of Y MUy 1 10 1 8 2 8 2 7 3 6 3 6 4 4 4 5 5 3 5 4 6 2 6 3 a. If your income is $9 and the prices of X and Y are $2 and $1, respectively, what quantities of each will you purchase to maximize utility? ______units of X and ______units of Y b. What total utility will you realize? ______utils c. Assume that, other things remaining unchanged, the price of X falls to $1. What quantities of X and Y will you now purchase? _____units of X and ______units of Y d. Using the two prices and quantities for X, complete the table to derive the demand schedule (a table showing prices and quantities demanded) for X. Instructions: Start with the highest price first Price of X Quantity Demanded of X $ $6 in Which point gives a customer a highest pleasure based on the below indifference map? OA A&D OE C B ВО D
- Another utility function is given; U(X, Y) = X.75 Y0.25 s.t. PxX+PyY=l What is the coefficient of the compensated demand function Y? Select one: O a. 0.46875 O b. 0.45875 O c. 0.42875 O d. 0.44875 O e. 0.43875741 Ny 7:0 Mond Content X + ultra/courses/_99030_1/cl/outline manipic cempo me manipic accompis. INIU Force Completion. This test can be saved and resumed later. BILLETTE Your answers are saved automatically. * Question Completion Status: QUESTION 1 The goal of the consumer is to maximize the total utility or satisfaction derived from their purchase choices, given the unique budget constraint. To calculate total utility of a given combination of T-shirts and movies, one would use the following approach: O a. For a given combination of T-shirts and movies, survey a group of individuals to determine an average for utils to be assigned to the number of T-shirts and movies. O b. For a given combination of T-shirts and movies, use Google to identify the number of utils associated with the number of T-shirts and movies and thenlum them. O c. For a given combination of T-shirts and movies, assign a number of utils to that combination. O d. Use utils as a measure of utility, assigning a…Refer to the accompanying table. The marginal utility of the 3rd dinner is Total Marginal Utility Utility 100 Number of Dinners. Out Per Week 1 2 3 4 Multiple Choice O о O 155. 55. 120. 65. 220 250 65
- 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.Kalia receives 20 utils from her first hamburger, 10 utils from her second hamburger, and 5 utils from her third hamburger. Kalia's marginal utility from her third hamburger is O A. 5 O O B. 15 C. 10 D. 35 E. Marginal utility cannot be determined from the information given.Below, the left panel shows a preference map for and the right panel shows a preference map for O A. perfect substitutes; perfect complements O B. perfect complements; perfect substitutes O C. ordinary goods; perfect complements O D. perfect substitutes; ordinary goods Suppose that you have $4 and the price of both goods is $1. When Good A and Good B are perfect compliments, you should buy units of Good A and units of Good B. ..... Figure A Figure B Good B Good B 5- 10- 8- 4- 6- 3- 4- 2- 2- 1- IC, 0- 0- 10 Good A Good A o 回
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