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- What is a budget line slope calledFind the rate of change of the function f(x) =x + 2 /1 − 8x with respect to x when x = 1. (ii) The number of units Q of a particular commodity that will be produced with K thousand dollars of capital expenditure is modeled by Q(K)=500 K 2/3The slope of the budget line is the
- what is the derivative of the utility function UU = log (100-2PPii) + log(PPjj+PPdd) with respect to PPjj. Budget constaint XXii = 100 - 2PPiiwhy is there no inclusion of the parameter z in the solutions and the budget constraint?Assume a consumer has a utility function U(x1, x2) = x1x2 where x1, x2 represents the amount of two goods 1 and 2 consumed in a given time period, find the utility-maximizing consumption function subject to the budget constraint5x1 + 4x2 <= 50
- Suppose that the quantity of tacos consumed per month is on the x-axis and the quantity of pizzas consumed per month is on the y-axis, a decrease in the price of pizza holding the price of tacos constant will A. cause the budget line to shift inward toward the origin in a parallel fashion. B. cause the y-intercept to remain the same, but the -intercept will move away the origin. C. cause the budget line to shift outward from the origin in a parallel fashion. D. cause the x-intercept to remain the same, but the y-intercept will move away from the originExplain very much in detail, using graphs you draw on your own, but also proper English reasoning and math, why the optimum consumption point is defined by the tangent to the indifference curve having the same slope as the budget constraint. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.An individual´s utility function is U = x0.5 y0.5 While the budget constraint is x + 4y = 100 Derive the expenditure function. Calculate the CV and EV when the price of the good x increases from 1 to 4.