Please can you give me the correct answer A: sarah, the new sofa isn't_____the old one. B: Do you think so? it's thel_____ C: as nice as - best B: as nice than - good C: as nicer than - better

Q: Show and explain the effects in kind payments and cash payments on individual’s utility by using a…

A: We will take the example of food and non-food products for better understanding the in kind payments…

Q: ii. What type of goods are petrol and gas if XED = 0.5? O Complementary and High responsiveness…

A: The cross price elasticity of demand refers to how responsive demand for one good or service is to a…

Q: Faisal has a budget of SR24 to spend on two fruits: Apples and bananas. The price of apple is SR3.00…

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Q: a) Formulate the consumer's choice as a constrained optimization problem. b) What are the first…

A: "Since you have asked multiple parts, we will answer only first three parts for you. If you have any…

Q: b. The table below shows the total utility associated with the consumption of units of ice cream.…

A: Utility means satisfaction.Marginal utility is the utility derived from the consumption of an…

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A: Given; Supply function; Q=12P                         P=2QDemand Function; Q=20-2P…

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A: A utility is the satisfaction derived from the consumption of goods and services . Utility is…

Q: Raquel has an initial income of $1091 and a final income of $900. Raquel initially consumed 10) cups…

A: “Since you have posted multiple questions, we will provide the solution only to the first question…

Q: d you have left over to buy an apple. Or something healthy. ost the right answers on the discussions…

A: Total utility is the general fulfillment that a buyer gets from the utilization of specific labor…

Q: suppose,  Apple = GBP 0.50 /unit Banana = GBP 1 /unit Income = 25 GBP how can we understand the…

A: Consumer equilibrium is the point at which consumer maximises their total satisfaction from…

Q: Price of Can of Beer = $0.50 Cans per Week Price of Slice of Pizza = $1.00 Slices per Week %3D Total…

A: Budget Line 10.5 = 0.5B + P21 = B + 2P (By duviding 0.5) MU = Change in TU/Change in Q

Q: Which of the following startements about network externalities is CORRECT? 00 00 Air pollution is an…

A: Network externalities refers to the system where value of product increases when number of users…

Q: Suppose a trip to the theater costs $10, but gives 40 units of utility to a consumer. A trip to the…

A: Utility refers to the amount of satisfaction received by a consumer from the consumption of a good…

Q: Question 5 The following schedules show the amounts of additional satisfaction (marginal utility)…

A: Unit of X TU MU MU/$2 Unit of Y TU MU MU/$4 0 0     -     - 0 0    -    - 1 20 20-0 =20 20/2…

Q: 1. A standard model of choice under risk is Expected Utility Theory (EUT) in which preferences over…

A: The question is asking about the Expected Utility Theory (EUT), a model of choice under risk, and…

Q: When deciding which goods to consume, you should choose to consume the good with the highest…

A: Marginal utility describes the additional satisfaction or benefit (utility) that a consumer derives…

Q: Don't use ai to answer I will report your answer and add explanation properly at every steps..

A: In this case there are two goods being consumed - soda and coffee.Consumer maximize the utility when…

Q: 2. Consider a consumer whose preference relation over the consumption set X = R³ can be repre-…

A: A utility function is a mathematical illustration that assigns a numerical value to the pleasure or…

Q: Refer to the information provided in Figure 6.8 below to answer the questions that follow. C) 25. D)…

A:

Q: Pls help with thsi question I am stuck   Given the image attatched: 1.Given the above Marginal…

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A: A consumer maximizes the utility subject to a budget constraint. The utility function is the…

Q: Consider the utility function u(x, y) \x+2y+1/ (a) Find the equation for the marginal utility for x…

A: Disclaimer: Since you have posted a question with multiple sub-parts, I am providing you with the…

Q: A consumer downloads 3 movies and 4 apps per week. Suppose the price is $2 per movie and $2 per app,…

A: Given: Marginal utility per Movie = 6 Price per movie = $2 Marginal utility per app = 8 Price per…

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A: The indifference curve is the graphical representation of the relationship between utility and…

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A: Marginal utility is the benefit that a consumer gains from acquiring another unit of a good or…

Q: An individual values two goods, X and Y, according to the following utility function 1.14 U(X,Y)=3…

A: Given  Consumer utility function: U(X,Y)=30.25X-0.88+0.75Y-0.88-1.14 Price of good X (Px)=3  Price…

Q: Consider a consumer who must allocate their available income between the consumption of two goods,…

A: Marginal utility refers to the additional utility derived from the consumption of one more unit of…

Q: 4. Liam initially has a weekly allowance of €24 to spend on eggs (at €0.40 per egg) and beans (at…

A: Liam will only consume 4 eggs with each tin of beans. This denotes that Liam considers eggs and tin…

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Q: b) Suppose that a consumer is choosing between Pears (A) and Oranges (B). Their utility function is…

A: Utility function : U = A1/2B1/2 Pa = 4  , Pb = 2  , Income = 120  Therefore ,  Budget Constraint :…

Q: Explain how utility could be used in a decision where performance is not measured by monetary value.

A: Utility refers to the amount of satisfaction that a consumer gets from the consumption of a good or…

Q: (c) What kind of preferences are represented by a utility function of the form u(21,72) = VE1+ 12?…

A: The utility is the want satisfying power of the commodity. The utility would result in the demand of…

Q: Drinking five glasses of water consecutively declines your utility, why?

A: Utility is referred to as the want satisfying power of the commodity. Most economic theories based…

Q: Caleb has an income of $100 and a utility function u(x.y)-2x + 4y. Say that the price of x is $4 and…

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Q: 1. Muhammad enjoys going to the aquarium (x) and playing basketball (y). His preferences on x and y…

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Q: When diminishing returns are present in consumption, the relationship between total utility and…

A: Diminishing marginal utility is an idea in financial matters that depicts the decline in extra…

Q: explain how a decrease in the real income of consumers would affect the market for luxury wallets…

A: A luxury good is one for which demand grows more than proportionately as income rises in economics.…

Q: 1. Doreen is looking for a flat to rent in Brighton. a. In choosing a flat, she cares about two…

A: Given information U=min(X,2Y) X= Number of bedrooms Y=Number of bathrooms Total income=1000 Price of…