What are the values of P, P2, Q1,22 given the two commodity demand and supply model:Q4i = 18 – 3P, + P2Q1 = -2+ 4PQaz = 12 + P - 2P2Q12 = -2+ 3P,Select one:O a. P $3.47, P2 $3.09, Q1 11.4, Q2 7.32O b. P $3.35, P2 $3.47, Q1 z 11.4, Q2 8.41O. P $2.14, P2 z $3.47, Q1× 11.4, Q2 × 16.32O d. P $3.59, P2 $1.86, Q1 = 16.32, Q2 1.18 If David John's preferences are represented by the utility function U(r1, 2)order the bundles A = (2, 3), B = (1,5), C = (4, 2)?= 12, how does the consumer%3DO a. None of the aboveO b. U(C) > U(A) > U(B)O. U(B) > (U(A) > (U(C)O d. U(B) > U(A) > U(C)

Answered: Image /qna-images/answer/b8a0faa7-6b5b-4799-943d-e1e83b06ef27.jpg

What are the values of P, P2, Q1, Q2 given the two commodity demand and supply model: Qdi = 18 – 3P, +P2 Qn = -2 + 4P Qaz = 12 + P - 2Pz Q2 = -2 + 3P2 %3D %3D Select one: O a. P $3.47, P2 $3.09, Q1 11.4, Q2 7.32 O b. P $3.35, P2 $3.47, Q1 11.4, Q2 8.41 O. P $2.14, P2 $3.47, Q1 = 11.4, Q2 16.32 O d. P $3.59, P2 $1.86, Q1 16.32, Q2 1.18

What are the values of P, P2, Q1, Q2 given the two commodity demand and supply model: Qdi = 18 – 3P, +P2 Qn = -2 + 4P Qaz = 12 + P - 2Pz Q2 = -2 + 3P2 %3D %3D Select one: O a. P $3.47, P2 $3.09, Q1 11.4, Q2 7.32 O b. P $3.35, P2 $3.47, Q1 11.4, Q2 8.41 O. P $2.14, P2 $3.47, Q1 = 11.4, Q2 16.32 O d. P $3.59, P2 $1.86, Q1 16.32, Q2 1.18

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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