uppose that the price of good A and Good B are birr 3and birr 2 respectively suppose aconsumer is spending his entire income for buying 4 units of A and 6 unit of B,and the marignal utility of both 4th unit of A and 6th unit of B is 6, is the consumer at his optimal position?

Q: After the price of good Xincreases to $12 while the price of good Y remains $4, how many units of…

A: The graph defining the scenario is shown as follows:With the price increasing to $12 of good Y and…

Q: Paul consumes only books and DVDS. At his current consumption bundle, his marginal utility from DVDS…

A: Answer: Given, Marginal utility of book MUB=2Marginal utility of DVD MUD=13PB=$1PD=$12 The…

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A: Marginal utility  Marginal utility is the happiness a consumer gains from having one more unit of an…

Q: Sarah spends her monthly entertainment budgeton books and movies. Sarah’s initial utility-maximizing…

A: Substitution effect induces consumers to buy goods that are cheaper. A normal good is a good whose…

Q: Along U1 you are indifferent between any of the combinations of burgers and soft drinks so you get…

A: This can be described as the concept that provides the graphical representation of the combination…

Q: Which among the following is not true? Select one: a. None of the answers are correct b. When…

A: As a buyer purchases more and more of a product, his marginal utility declines until he reaches a…

Q: Suppose Darren pays $10 to eat at an All-you-can-eat dessert buffet. He was very hungry, an so he…

A: Here, the information about the marginal utility gained by Darren is given till the fifth unit of…

Q: The price of a hot dog is $1, the price of a movie ticket is $,5 and the consumer has $13. A…

A: Optimal choice - It is the best combination of goods which will lead to the best satisfaction of the…

Q: 48. Demand curve slopes downward because of the law of A. O Consumer equilibrium B. O Utility…

A: According to the Law of supply and demand, which is a cornerstone of microeconomics, price and…

Q: Currently, Paula is maximizing utility by purchasing five TV dinners (T) and four Lean Cuisine Meals…

A: A budget constraint is a fundamental concept in economics that represents the limitations imposed on…

Q: mer buys coffee (C) for $3 each and bagels (B) for $1.50 each. If she has in the slope of her budget…

A: Given that, Price of coffee (PC) = $3  Price of bagels(PB) = $1.50  Money income (M ) = $40

Q: Suppose that Reza buys two products and that the marginal utility of an additional carton of soy…

A: Utility refers to the happiness or satisfaction that a person get from the consumption of goods or…

Q: 172 122 1. Complete the table above by calculating the marginal utility, the marginal utility per…

A: total Utility is the aggregate amount of satisfaction that the consumer receives from consuming…

Q: Christoph, who consumes only luxury bacon sandwiches and luxury sausage rolls, has a weekly income…

A: Marginal utility (MU) is the concept in economics that shows the additional utility (satisfaction)…

Q: and B, has a total income of 16birr with price A and B were 1birr and 4birr respectively Given the…

A: "Since you have asked multiple subparts, we'll solve only the first three subparts." a). The…

Q: Q2. Thirsty Ed drinks only pure spring water, but he can purchase it in two different-sized…

A: A perfect substitute may be utilized in the same way that the item or service it replaces can be…

Q: 8 of 15 Izzy who consumes only grilled chicken sandwiches and salads with low-fat dressing, has a…

A: The objective of the question is to determine whether Izzy is making the utility-maximising choice…

Q: 48. Demand curve slopes downward because of the law of

A: To find : Why demand curve slopes downward.

Q: onsumption

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Q: Rachel plans to hold a pizza party for her friends. Below is data on Rachel's utility for pizza in…

A: Answer to the question is as under:

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…

A: Utility: It refers to the level of the satisfaction. The more satisfaction will help the consumer to…

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A: Utility function u(x, y) = 2min{x, y}+10 consumer income of $16 the price of good x is $3 the price…

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Q: Vinny consumes tacos and chicken wings. To keep his utility constant, he must consume more tacos if…

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Q: d. None of the above * 4Tam maximizing my utility with respect to bread and bananas, and the…

A: Consumer maximizes his utility at the point when, MUX/PX = MUY/PY, where X and Y are the two…

Q: Mylie’s total utility from singing the same song over and over is 50 utils after one repetition, 90…

A: Marginal utility is nothing but the additional utility after consuming each additional unit of good.…

Q: Answer the question on the basis of the following two schedules, which show the amounts of…

A: The objective of this question is to determine the combination of products G and H that the consumer…

Q: . What are the mathematical steps in deriving demand and indirect utility

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Q: Question 3 Quantity Total Utility Marginal Utility 150 2 320 3. 450 4 520 5 550 6. 550 7. 430 8 300…

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

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Q: Units of X 1 2 23 456 MUX 10 8 64 utils 32 2 units of X and Units of Y 1 2 3 4 5 b. What total…

A: Since we only answer up to 3 sub-parts, we will answer the first 3. Please resubmit the question…

Q: stion 51 The following marginal utility data is for products X and Y. Assume that the prices of x…

A: Utility is maximized when marginal utility per dollar of each good is same and expenditure on the…