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- Suppose X = R k + for some k ≥ 2, and we define x = (x1 , …, xk ) ≥ = (y1 , …, yk ) if x ≥ y; that is, if for each i = 1, …, k, xi ≥ yi . (This is known as the Pareto ordering on R k + ; it plays an important role in the context of social choice theory in Chapter 8.) (a) Show that ≥ is transitive but not complete. (b) Characterize ≥ Is asymmetric? Is≥ Negatively transitive? Prove your assertions. (c) Characterize ~ defined from ≥ in the usual fashion; that is, x ~ y if x ≥ y and y x. Is ~ reflexive? Symmetric? Transitive? Prove your assertions.When using the social ecological model, which of the following would be considered part of the "exosystem" of influence on an individual's physical activity? O Personal factors O public policy O Institutional factors O Exosystem does not exist in the social ecological model If you have a client who wants to work out on his own, which of the following method of prescribing exercise intensity you should recommend to be more accurate? O Rating of perceived exertion (RPE) O Talk test O % Age predicted HRmax O % Heart rate reserve (measured)Which of the following is not a condition required for the first welfare theorem to hold: O a. No government policy interferes with the formation of prices. O b. No market actor has market power. © c. Tastes are quasilinear. O d. Income is distributed fairly before markets open. O e. (a) and (c) Of. (b) and (c) O g. (c) and (d) O h. (b) and (d)
- Asap Suppose Faith and Mickey are playing both dictator and ultimatum games. Faith is the dictator/proposer and has $80 to allocate. Based on repeated experiments of the dictator and ultimatum games, what payouts to Mickey would be most consistent with the findings of behavioral economists? Multiple Choice O. Mickey receives $0 from the dictator game and $8 from the ultimatum game. O. Mickey receives $47 from the dictator game and $42 from the ultimatum game. O. Mickey receives $40 from the dictator game and $40 from the ultimatum game. O. Mickey receives $33 from the dictator game and $38 from the ultimatum game.please only do: if you can teach explain each partc: what does it mean? can you show graphs: show WARP : If the consumer’s wealth is high enough that both bundles can buy with both prices then WARP violates If the consumer may not be spending all of her wealth, are her choices consistent withthe Weak Axiom of Revealed Preference (or is it impossible to determine)?: If the consumer’s wealth is high enough that both bundles are aordable atboth prices then WARP violates. why? Therefore, it is notpossible to knowThe Condorcet paradox illustrates Arrow’simpossibility theorem by showing that pairwisemajority votinga. is inconsistent with the principle of unanimity.b. leads to social preferences that are not transitive.c. violates the independence of irrelevantalternatives.d. makes one person in effect a dictator.
- Q2. Preferences and utilityLet's assume that country A prefers not to make additional concessions (outcome C1) to country B than granting those concessions (outcome C2), but a continued war (outcome C3) would be worse than making the additional concessions (C2). The following utility function over the outcomes specifies the intensity of preferences for country A over the outcomes: u(C1) = 1, u(C2) = 0.3, and u(C3) = 0. Country A can choose to refuse concessions (action A1) or allow concessions (action A2). The outcome that will occur is a function of the "type" of country B's leader.If country A refuses concession (A1), country B will not initiate a war (outcome C1) if country B's leader is amicable, while it will enter a war (outcome C3) if the leader is belligerent. There is a probability p(S1) = 0.6 that country B's leader is amicable and a probability p(S2) = 0.4 that country he's belligerent. If country A allows concession (A2), both in case of country A is amicable p(S1) and…1. In the Traveler’s Dilemma, each of two people chooses a number between 180and 300. Each is paid the lower of the two numbers, but the person who choosesthe higher number must pay an amount x to the person who chose the lowernumber. In one case, x = 5, while in the other case x = 180. What differencewould you expect between choices with the two values of x?a. Higher choices when x = 5.b. Higher choices when x = 180.c. Little or no difference.d. Impossible to predict.2. Consider these statements about communication in experiments.1. Chat communication is usually more effective than written simple signals (A,B, etc.).2. Friendly appeals to mutual interest and payoff dominance are effective.3. Promises often affect beliefs and actions.4. A promise is not worth the paper it is printed on.Which of these are true?a. 1 and 2b. 1 and 3c. 2 and 3d. 1, 2, and 33. A treasure is hidden under one of the four boxes below. A person gets twoguesses to find the treasure. What do you think is the most…What are four responses to the claim that people should not behave in the way described in this chapter?
- Mr. Dogan has 4000 TL to spend. He considers buying meat whose price is 400 TL per kg. and cheese whose price is 160 TL /kg. Given this a) What condition (equality) leads him to a utility maximization. State the condition numerically and tell clearly what each of the variables mean in that equation b) Now suppose that income of Mr. Dogan and price of meat does not change but price of cheese is down to 130 TL/kg. Do the equality and optimal basket found in a still maximize the utility? If not; what is the new condition for utility maximization (write the condition as a numerical equation defining the variables in the equation)Need Step by Step answer: How to draft on Excel. Because Income depends on work effort and work effort depends on nutrition, suppose the relationship between income (Y) and total food availability (F) in a poor household is given by: Y = 10F + 20F2 – 0.6F3 a) If food availability in a two-person household is 20, would it be “rational” to share the food? Explain. b) If food availability in a two-person household is 30, would it be “rational” to share the food? Explain.to what extent is incone in equality a result pf choices made by the individual?