You have an 8:30 class this morning but you are feeling extremely tired. How do you decide whether toget some extra sleep or go to class?

Q: O a) changes in tastes and preferences

A:

Q: O complements

A: As we know that if a price of one product increase, and decrease in demand for other product in this…

Q: ii. What type of goods are petrol and gas if XED = 0.5? O Complementary and High responsiveness…

A: The cross price elasticity of demand refers to how responsive demand for one good or service is to a…

Q: Your gym offers two classes at the same time:weightlifting and yoga. Both classes are includedin…

A: The utility is something that consumer gains after consuming a product or service. It is measured in…

Q: A consumer has a choice of spending $20,000 on a Honda or $14,000 on a Kia. She was observed buying…

A: Spending on Honda = $20,000 Spending on Kia = $14,000 Consumer purchases Kia

Q: A consumer has $40 in budget to purchas goods X and Y. Assume Px = 1 and Py = 3. She has a coupon…

A: Here we calculate the given by following method as follow'

Q: 150 320 3. 450 4 520 5 550 550 7. 430 8 300 The above table shows Kenzi's Total Utility for Enfamil.…

A: "Since you have asked multiple parts, we will answer only the first part for you. If you have any…

Q: You have $4,000 to spend on entertainment this year (lucky you!). The price of a day trip (T) is $40…

A: a) The price of a day trip (T) is $40 and theprice of a pizza and a movie (M) is $20. Suppose that…

Q: ability of consumer to maximize utility is constrained by the amount they have to spend. And this is…

A: The idea that people and associations look to achieve the most significant level of fulfillment from…

Q: You have 6 hours to study for 2 exams tomorrow. The relationship between the time studying and test…

A: A consumer maximises his utility at a point where marginal utility per dollar for two goods are…

Q: Consider you will organize a party. Your budget is $2000 and you will provide pagne (pchampagne-$50)…

A: Initially, the budget (M) is $2000 Price of champagne =$50 Price of oysters =$20   In the case of…

Q: Five consumers have the following marginal utility ofapples and pears:Marginal Utilityof…

A: Utility maximization is the process by which consumers allocate their resources in the procurement…

Q: Oescribe Hhe strotugy 450 words. blue ocean in appioximately

A: Bluethe co Ocean is a term which was originated by two business professors Renee Mauborgne and Chan…

Q: Explain both parts. a) The point where VMP equate MFC b) TVP vs TFP

A: The addition to the revenue that is made by hiring an extra unit of labor is called the value of…

Q: 1. A consumer is in equilibrium when marginal utilities are

A: To find : Consumer is in equilibrium when marginal utilities are.

Q: Dozens of Oysters per Day Total Utility Marginal Utility 1 60 2 104 3 134 4 152 5 8

A: dozens of oysters per day Total utility Marginal utility 1 60 60 2 104 44 3 134 30 4 152 18…

Q: 24 12 If the price of a telephone increases from $5 to $10 an hour and nothing else changes, then

A: Optin c  is the right answer marginal cost would not change   Reason:- Here the price of the…

Q: Documentl - Word Table Tools References Mailings Review View Design Layout O Tell me what you want…

A: 1.Sunglasses in a kiosk in the mall,in july,buy one get one free. Time utility Such type of discount…

Q: erry decides to decrease her work hours from 20 to 10. 1. What would be her marginal utility gain…

A:

Q: Marie has a weekly budget of $24, which she likes to spend on magazines and pies. 1) If…

A: In economics, a budget constraint represents all the combinations of goods and services that a…

Q: Explain and give example 1. Satisfaction of wants VS Fullfilment of needs

A: Satisfaction of wants means to satisfy a want,for example buy a car.

Q: a. the impact of a change in consumer income on the purchase of luxury automobiles

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: passengers for your car? O Offer to take half the party, or cancel at no charge O Take them all…

A: The quantity of passengers permitted in a vehicle is directed by the quantity of safety belts…

Q: According to PfizerLipitorMonopoly; it will benefit O Benefit managers and consumers O Pfizer only O…

A: PfizerLipitor is a medicines company. It is a monopoly firm. Now there are various market structure…

Q: a)Which gives you greater total utility: 14 gallons of water per day or 22 gallons per day? Why?…

A: Consumers get utility from consuming goods. Total utility is derived from the total amount of goods…

Q: 40. Total utility of a commodity is measured by which price of that commodity?

A: To find : How is total utility of commodity is measured.

Q: Graph the following data Quantity marginal utility 1                   153 2                    112…

A: Marginal utility is the additional utility derived from consuming one extra unit of the output. The…

Q: Quèstion 7 When total utility begins to decline marginal utility will be positive but it will…

A: The relationship between TU and can be summarised as follows :

Q: Store Opportunity Cost of Time Price of a Suit Total Cost (Dollars) (Dollars per suit) (Dollars)…

A: Opportunity cost is the forgone benefit that would have been derived by an alternative not chosen.…

Q: Do you think that you could consume less by refusingto buy some of the things you regularly buy? If…

A: Consumption refers to the process by which people spend their income on the purchase of goods and…

Q: Madison has a full-time job, but she is considering going back to school for a master’s…

A: It is often seen that education plays an important role in order to get a job and in salary…

Q: A- Bulleted Invis Bullets Large_Spa... Name Date Paragraph St LIIC VISILUIS C CIILCI at the state…

A: I recently purchased shoes According to four types of utility. 1.Form utility Form of the shoes is…

Q: utinty Total Number Consumed Utility 1. 11 3 18 4 24

A: The given table shows relationship between the number of units consumed of candy and total utility…

Q: f. If consumer income increases, other things equal, the demand for automobiles will increase.

A: Positive Economics refers to which that deals with economic issues related to past, present, and…

Q: Table A – Faris Daily Consumption Dozens of Oysters Total Utility Marginal Utility per Day 1 60 104…

A: Marginal utility is the additional utility gained from consuming an additional unit of the good.

Q: sments S ration nt Forms # mt. t Files t Us Question 13 A local restaurant offers an "all you can…

A: Marginal value refers to marginal benefit derived from consuming a good. It refers to additional…

Q: y of the third Pepi is Me Chice uns of uty 6 unts of uly urof y 27utofy

A: In economics, utility is the satisfaction or benefit derived by consuming a product; thus the…

Q: Suppose you have a budget of $12 and cost of a cola is $2 and sandwich is $4. Using this information…

A:

Q: 1. Doreen is looking for a flat to rent in Brighton. a. In choosing a flat, she cares about two…

A: Given information U=min(X,2Y) X= Number of bedrooms Y=Number of bathrooms Total income=1000 Price of…

Q: e table below describe the goods and quantities included in your current pose you have been able to…

A: *Answer:

Q: Read the article. How important are cellphones in our lives right now? Do you ever see them becoming…

A: The advancement in technology has taken over every individual's life in today's era. Mobile phones…

Q: How does household made choices based on budget or their utility satisfaction? Justfiy

A: The first method is that, the households want to minimize their budget, subject to a specific level…

Q: A consumer's preferences for non-energy services and energy services are prescribed by U(N,E)=3N+E.…

A: Marginal utility refers to change in total utility when one additional unit of commodity is…

Q: Juanita is deciding whether to buy a skirt that she wants, as well as where to buy it. Three stores…

A: Marked up price= $102 Store is 15 minutes away from her place

Q: If you have 10 dollars to spend, and the price of water is $1 oer bottle, the budget containt would…

A: Budget constraint represents all the possible combinations of goods and services that a consumer can…

Q: QUESTION 7 Based on your answer from the above question, what combination of Burgers and Pizzas…

A: