From the graph above, one could conclude that, all else remaining constant the relationship between X and Y is direct. the relationship between X and Y is indirect. Othere is a trade-off between X and Y.
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- Consider the relationship y = f(x). In this relationship: %3D Oa. y is called the independent variable and x is called the dependent variable. O b. y is called the range and x is called the domain. O c. yis called the dependent variable and x is called the independent variable. O d. y is called the domain and x is called the range.Title Suppose that Lynn enjoys coconut oil in her coffee. She has very particular preferences, and she mus Description Suppose that Lynn enjoys coconut oil in her coffee. She has very particular preferences, and she must have exactly two spoonfuls of coconut oil for each cup of coffee. Let C be the number of cups of coffee, and O be the number of spoonfuls of coconut oil. Also, let PC be the price of a cup of coffee. Suppose Lynn has $12 to spend on coffee and coconut oil. Also, the price of coconut oil is $.50 per spoonful.a) Graph Lynnâs Price Consumption Curve for prices, PC = $1, PC = $2, and PC = $3. Please put the number of cups of coffee on the horizontal axis, and the number of spoonfuls of coconut oil on the vertical axis. Be sure to label your graph carefully and accurately.b) Graph Lynnâs demand curve for coffee. You may assume that both coconut oil and coffee are continuous variables so she can consume any amount of coffee and coconut oil that she could afford.…Please solve a Suppose that without a seat belt, drivers who travel at 0 m.p.h. (mile per hour) have a 100% chance of staying alive, while drivers who travel at 100 m.p.h. have 0% chance of staying alive. Suppose that with a seat belt, drivers who travel at 0 m.p.h. have a 100% chance of staying alive, drivers who travel at 100 m.p.h. have a 50 % chance of staying alive and drivers who travel at 200 m.p.h. has no chance of staying alive. (a) Suppose a driver prefers more chances of staying alive to less, driving faster than slower. Draw and indifference curve diagram relating safety (measured by chance of staying alive) on the horizontal axis and speed (measured in m.p.h.) on the vertical. Draw the budget constraints of a driver with a seat belt and a driver without a seat belt. (You may assume these constraints are straight lines.) (b) True or False: If speed and safety are both normal goods, then the invention of seat belts will certainly make people drive faster, but might or might…
- a) What is the island's maximTwo fields can be planted on Robinson Crusoe's island. Each can be used to grow oranges or apples. If Field A is planted entirely with oranges, it will produce 2 bushels (bu.) of oranges. If A is planted entirely with apples, it will yield 4 bu. of that crop. For Field B, the numbers are reversed: B will produce 4 bu. of oranges if entirely planted with oranges, or it will produce 2 bu. of apples if entirely devoted to that crop. IF A FIELD IS SPLIT BETWEEN THE TWO CROPS, the output of each crop from that field will be proportional to the fraction of the field planted in that crop. For example, if half of B is planted with each crop, then it will produce 2 bu. of oum possible output of oranges? __________ b) Graph your answer in a) on the axes found on the next page and label it point H..(Put oranges on the horizontal axis and apples on the vertical axis) c) What is the island's maximum possible output of apples? __________ d) Graph your answer in c) on the…Prd 6000 Pce 10000 Demand Profi Price Price Ouan 1500 Cells A17:B18 and A21:B22 are there to draw the profit function for the model. O A) The statement is true. B) The statement is false.Figure#5 Quantily of M&M's (or'o) 10 7. 6-7 Quantly ol Skittles 2. 6. 4.
- Which type of correlation does the scatter diagram show? A. Weak negative correlation B. Strong positive correlation C. Strong negative correlation D. Weak positive correlation O E. No correlation O O O OWhat assumptions about the economy must he true for the invisible hand to work? To what extent are those assumptions valid in line real world?Hacmillan Leaming Christine and Paul are deciding how to split their time between writing music and lyrics for their new album. Their PPF's for 72 h of work are shown. Christine and Paul have to write music for 8 songs and lyrics for 12 songs (4 songs already have music). When they are done, they can go to a private island and relax from all their hard work. It is possible that they will use more than 72 h. Once they start writing lyrics and music, assuming their hired help packs for them and their plane is waiting outside their door, in how many hours can they board the plane to their relaxing island getaway? Christine will write music for Paul will write music for Christine will write lyrics for Paul will write lyrics for h songs. songs. songs. songs. Music written (in # of songs) 1 0 Paul's PPF 1 Christine's PPF 2 Lyrics written (in # of songs))
- . On a given evening, J. P. enjoys the consumption of cigars (c) and brandy (b) according to thefunctionU (c, b) = 20c - c2 +18b- 3b2.How many cigars and glasses of brandy does he consume during an evening? (Cost is no objectto J. P.)b. Lately, however, J. P. has been advised by his doctors that he should limit the sum of glasses ofbrandy and cigars consumed to 5. How many glasses of brandy and cigars will he consumeunder these circumstances?Price ($/ton) Sus A 350 B 300 E 200 G Dus K 100 10 15 20 Quantity of Sugar (milliontons) A) Using the prior graph if the U.S. did not trade what price would the good cost? If the world price was $200 what quantity would the U.S. produce? What quantity would be imported. What is consumer surplus at the world price? What is producer surplus at the world price? (Using labels do not use math) Who benefits from the free trade and who gets hurt? B) If the U.S. government puts a tariff on the good so now the price is $300 who benefits, who is hurt? What quantity will U.S. producers now produce? What happens to consumer surplus and producer surplus at this new price? What does the government gain from the tariff? C) Who benefits from free trade overall? Who benefits from trade restrictions? Why is a tariff the most used trade restriction?Sketch a graph to illustarte your idea of each of the following relationships. Be sure to label both axes appropriatley. In each case explain uder what circumstances, if any, the curve should shift. 1. The amount of fertilizer added to an acre of land and the amount of corn grown on that land in one growing season 2. An automobile's horspower and it's gasoline mileage (in miles per gallon)