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- Define conversation analysis (CA)True/False/Uncertain: 1. In taking an exam, Atack, a rational student, allocates his time to the various questions so as to equalize hismarginal point utility per minute on all questions. 2. The marginal utility of food to Zecher depends only on the amount of food (and not on the amount ofhousing) and the marginal utility declines as more food is consumed; likewise for housing. Therefore,both food and housing are normal goods. (Hint: Express the optimality condition for Zecher’s [UMP], MUF/MUH = PF/PH. Notice that PF/PH is fixed. If all of an increase in income is spent on F, can the equality be maintained?)It is October and Sam has won a price of $9000. She has the following two options:• Option A: receiving the entire amount in October;• Option B: receiving the price in three equal installment, that is, receiving $3000 in eachof the following months (October, November, December).Sam decides to distribute her price over time by choosing Option B. Assume that Sam hasconstant marginal utility of money. Prove mathematically that Sam’s preference for Option B cannot be explained by hy-perbolic discounting (the β − δ model). Assume 0 < δ < 1 and 0 < β ≤ 1.
- What is centeris paribus assumptionsIf Ty's marginal utility for a cup of coffee is 20 and his marginal utility of a donut is 10, then A. they should both be purchased. B. coffee should be his next purchase. C. a donut should be his next purchase. D. price information is also needed to determine what Ty should purchase next.Indifference curve is vital in explaining the ordinal approach, yet is criticized on the various grounds. Enumerate the various points of criticism against indifference curve.
- If you had a vacation budget of $3000 to take vacation(s) this fall, use utility analysis theory to predict which vacation that you would participate in this fall. You need to explain why you would take this vacation instead of another one that you were considering. Assume that you must take the vacation or all life on Earth would perish. I made that last assumption to prevent you from saying that you would just spend it to pay down bills or put it in savings. 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.Please ASAP. Thank you. QUESTION Slope is sometimes defined as rise over run. If we raise the price of an appointment by $50 and the associated new quantity of visits increases by 10, we can say that for every $50 increase in the prices we can expect an increase of 10 visits. What is the slope with regard to price? A. 50/10 B. Zero C. Undefined D. 10/50 QUESTION In causal terms, slope can be expressed as the magnitude or sensitivity of response.TrueFalsePareto eliminated psychology from economics:a. by defining utility as ordinal, not cardinal utilityb. searching for secondary qualities of thingsc. defined rationality as consumer behavior only after they have bought something several timesd. by accepting revealed preference.
- Please explain two principal variables that have determined the commodification by giving examples.Q1 (b) – each graph needs to be approximately half page in size. All the axis need to be labeled. The TU values need to be scaled as follows: 10, 20, 30, 40, 50, 60 – with 2 cm gaps. The MU values need to be scaled as follows: -5, 0, 5, 10, 15 – with 2 cm gaps. b) Using the values from the above table, “Plot” (on separate graphs) i) Total Utility ii) Marginal Utility graphsThere are two expantions for preference reversals.(In Behavior Economics) -Scale Congruence -Prominence Could you explain about them easily?
