The value in Y axis has changed from 14.94 to 10.98 and the value in X axis has changed from 9.12 to 2.29, what is the slope of the indifference curve at this point?
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The value in Y axis has changed from 14.94 to 10.98 and the value in X axis has changed from 9.12 to 2.29, what is the slope of the indifference curve at this point?
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- The value in Y axis has changed from 13.54 to 11.78 and the value in X axis has changed from 9.96 to 4.14, what is the slope of the indifference curve at this point? a. 0.30 b. -3.31 c. -8.01 d. 11.22If the slope of indifference curve is -0.8 and the change in X axis is 8, what is the change in Y axis? Select one: a. - 10 b. 10 c. - 0. 1 d. - 6.4What does the utility function u(x,y) = -x look like as an indifference curve (draw 3, indicating direction of increasing performance)
- Consider the following equation for an indifference curve: y = 20/x. At point A (2, 10), the MRS is?Suppose a consumer's utility function is given by u(x,y) = Min{0.5x , 2y}, where Min is the minimum function. What is the shape of the consumer's indifference curves? a) downward sloping and convex b) linear and downward sloping c) L-shaped (right angle) d) horizontal e) linear and upward slopingDefine Indifference Curve. Explain properties of Indifference Curve with the help of a graph.
- What are indifference curves?Draw the indifference curve diagrams for the 4 utility functions listed below. In each diagram, draw at least two indifference curves and show in which direction utility is increasing. Thank you so much for the help!!The elementary school has one candy machine in the cafeteria. Candy at the vending machine costs $1.50. The machine requires exact change for each purchase: one dollar bill and two quarters. What is the utility function for dollar bills and quarters, with x representing the number of dollar bills and y representing the number of quarters? Draw three indifference curves for dollar bills and quarters, for a typical customer at the vending machine.
- Consider a budget line drawn with apples on the vertical axis and oranges on the horizontal axis. The consumer's income is $100, the price of apples is $5, and the price of oranges is $10. Suppose the consumer's income falls to $75.00, but the prices of apples and oranges remain unchanged. The change in income produces a: a) parallel shift inward of the indifference curves. b) new budget line which is flatter than the original one. c) new budget line which is steeper than the original one. d) parallel shift inward of the budget lineThe indifference curve for U=min(5x,4y) will be Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a: vertical b: horizontal c: downward sloping straight line d: L- shaped. e: None of the aboveWhat information is contained in an indifference curve? Why are such curves Convex to the origin
