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- if we take examples and suppose there are 2 products, milk and yoghurt, and if the milk is rationed for people by government, how can we understand the satisfaction maximization choice with the indifference curve and budget lineWhat part of utility theory would be classified as an abnormality in Thomas Kuhn's view?A. Explain, using an indifference curve and a budget line, the concept of consumer equilibrium. B. What are the assumptions on which indifference curve theory is based?
- “If we take $1 away from a rich person and give it to a poor person, the rich person loses less utility than the poor per-son gains.” Comment.Use the graph below to answer the following question: Which point would give this individual the most utility, while still being affordable? tacos vs chicken fingers Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.TRUE OR FALSE Each individual has a utility function that spits out a number representing how happy she is with a particular goods bundle.
- Can Giffin goods also be normal goods?President Vladimir Putin of Russia proposed replacing in-kind subsidies such as free public transportation and rent-free apartments for government workers with cash subsidies of between $20 and $120 per month. The proposal led to widespread complaints among Russian citizens that the cash subsidies were not large enough. One reportedly asked, “What is a perk worth?” Use an indifference curve analysis to show how to convert an in-kind subsidy into a cash subsidy that leaves people equally well off.What are the conditions for utility maximization?