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- Mr. Abdulah enjoys Coffee (K) and Tea (T), with the utility function U (K, T) = 3K + 4T. Question: - Draw the Indifference curve for Abdul if the price of a cup of coffee and tea is Rp. 3, - and Mr. Abdulah has Rp. 12, - to spend on Coffee and Tea. - If the coffee price drops to Rp. 2, - what effect will it have? He wants his satisfaction equal to the original Utility curve. Show it in the picture!1- Consider the following utility function for goods x1 and x2: u(x1,x2)=(x1+x2)2 a) Are the preferences represented by the above utility function monotonic? b) Graph a representative indifference curve. c) Compute MRS. Do these preferences exhibit decreasing MRS?6 B. Calculate and represent the indifference curves that pass through the bundles (x, y) = (1,1) and (x, y) = (1,2) of individuals whose preferences are represented by the functions of utility:
- Paul derives utility from cups of coffee (C) and donuts, which he eats a dozen at a time (D). His utility function is: U = √C.D d. Show that Paul's income will not permit him to reach the =20 indifference curve. e. If Paul buys five dozen donuts, how many cups of coffee can he buy and what is his utility? f. Use a carefully drawn graph to show that the utility calculated in part e is the highest Paul can achieve with his $200.Which utility function represents quasi-linear utility function in y. A. U = x^2+y B.U=X+Y C.U=min (x, y) D.U=x^2+xy. Please answer correct calculation asap plz Don't answer by pen paper plza. Suppose Fiona’s income is $100 per week, which she allocates between chocolates and books. Chocolates cost $2 each. Books cost $10 each if she purchases between 1 and 5 books. If she purchases more than 5 books in a week, the price falls to $5 for the 6th book and all subsequent books. Draw the budget constraint. Is it possible that Fiona might have more than one utility-maximizing solution? b. Confirm that if a consumer’s utility function is described by U = 2X + Y, and prices are px = 2 and py = 1, there is no unique utility maximizing solution regardless of income level. What does this tell you about X and Y as commodities? (Hint: draw a graph showing a budget constraint and indifference curve using the information provided.)
- Lucy's company has just promoted her to a managerial position and given her a new office. She is very fond of small Persian carpets and Native American paintings and wants to get some carpets and paintings for her office. Her utility function for carpets (x) and paintings (y) is given by ?(?,?)=√?? Using Excel's charting tool, draw an indifference curve for U = 4 and another one for U = 6, where both indifference curves contain 1, 2, 4, and 8 carpets on a graph, with carpets on the horizontal axis and paintings on the vertical axis.Suppose a consumer buys only two goods x and y and spends her entire income on these teo goods. She must first but some fixed quantity y before she buys any amount of x. After purchasing y; what matters is the quantity of x only and utility will increase only by buying more x. Please Draw the indifference curves. * Please draw the indifference curves as the solution*10. Consider the utility function U(x, y) = xy + x. Which of the following bundles is noton the same indifference curves as the others. Note: The first entry is the amount of x, thesecond is the amount of y.(a) (5,1)(b) (2,4)(c) (4,2)(d) (2.5,3)
- The question is: Draw the indifference curve diagrams for the utility functions listed below. Plot ?? on the horizontal axis and ?? on the vertical axis. In each diagram, draw at least two indifference curves and show in which direction utility is increasing. Could you please do 1d?C) Draw the indifference curve associated with a utility level of 36 and the indifference curve associated with a utility level of 72. Are the indifference curves bowed in toward the origin? The utility that Ann receives by consuming food F and clothing C is given by ?(?, ?) = √?? 4 + ?. Food costs N$5.00 a unit, and clothing costs N$15.00 a unit. Ann’s income is N$1850.00Jean-Pierre has preferences represented by the utility function U( x, y) = min{ 2 x + y, x + 6 y}. If x is on the horizontal axis and y is on the vertical axis, what is the slope of his indifference curve at the point (7, 7)? a.–2 b.–7/7 c.–1/2 d.–1/6 e.–6/2 Note: don't use chat gpt
