Rankings Public Good Jay Dave Conan Ist choice 3d choice Ist choice Courthouse 2d choice School 3d choice 2d choice Park Ist choice 3d choice 2d choice
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Explain the paradox of voting through reference to the accompanying table, which shows the ranking of three public goods by voters Jay, Dave, and Conan:
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- Jeremy is deeply in love with Jasmine. Jasmine lives where cell phone coverage is poor, so he can either call her on the land-line phone for five cents per minute or he can drive to see her, at a round—trip cost of 2 in gasoline money. He has a total of 10 per week to spend on staying in touch. To make his preferred choice, Jeremy uses a handy utilimometer that measures his total utility from personal visits and from phone minutes. Using the values in Table 6.6, figure out the points 011 Jeremys consumption choice budget constraint (it may be helpful to do a sketch) and identify his utility-maximizing point.For Unit 4 Learning Journal, you will use the marginal utility formula to choose between two products. Catherine is having dinner at the Yellow Restaurant. She wants desert after eating her entree. She is trying to decide between a cookie or a slice of pie. The cost of a cookie is $5 and the cost of a slice of pie is $8. Refer to the Unit 4 Learning Journal Marginal Utility spreadsheet Compute the marginal utility for cookie and slice of pie Compute the marginal utility per dollar What is the utility maximizing choice for a cookie and slice of pie? Explain what the utility maximizing choice means. Discuss how you could use marginal utility to make consumer choicesCalculate the marginal utility .. # of cookies per day Total Utility per Day 0 0 1 100 2 200 3 275 4 325 5 350 6 360 7 360
- NAME THE FOOD MENU THAT FOUND IN CASUAL AND FINE DINE RESTAURANT SCRAMBLE WORDS 1. KCINHNEC GESTGUN 2. RURAGMEHB 3. ECSEHE ZPZAI 4. EICHCNK SGINW 5. MAONLS WSESEKR 6. NAASGLA 7. PRIHSM TAPAS 8. EKBDA OTOTPTA 9. AASPT ANCOABRAR 10. TAMELSABL 11. TUBERT NCEKICH 12. SKEHECCEEA 13. ISRNOIL AESTK 14. SEACAR DALSA 15. SEAKT DASNHCIWIf MUCoffee/PCoffee > MUDonuts/PDonuts you will spend your next dollar of income on coffee you will buy 2 more coffees you will buy 2 more donuts you will spend your next dollar of income on donutsWhat are the 4 forms of utility? And explain what each one is.
- Choose the best/correct answer. ___1. Anything that satisfied someone. A. Needs C. Desires B. Wants D. Willingness ___2. A place where buyers and sellers interact together. A. Social media C. Market B. Business Area D. Classified Ads ___3. It is the satisfaction derived from the consumption of a commodity. A. Total utility C. Disutility B. Marginal utility D. Utility ___4. It is the change of total utility over the change of quantity. A. Total utility C. Disutility B. Marginal utility D. Utility ___5. It is the foregone value when a firm is engaged in production. A. Cost C. Revenue B. Profit D. InterestBriefly outline and explain some of factors that depend on line amount of a commodity a consumer os prepared to buyAna, Emma, and Greta are deciding what to do on a weekend getaway. They each suggest a first choice and then vote on the options. Their first choice, second choice, and third choice preferences are as shown in the following table. Circular preferences 1st Choice 2nd Choice 3rd Choice Ana Beach Mountain Biking Canoeing Emma Mountain Biking Canoeing Beach Greta Canoeing Beach Mountain Biking Based on the table explain why they will have a hard time reaching a decision. Do they prefer mountain biking to canoeing? What about canoeing compared to the beach? What about the beach compared to the original choice of mountain biking?