FC VC TC AFC AVC ATC MC 2. 2 A 3 3 1 2 2 1.8 1 .9 1.9 3 2. 2.4 4.4 .8 1.47 .6 4 2. 2.8 4.8 .5 1.2 .4 Assignment 1. Find the value of A,B,C,D & E. Add $8 with FC. New FC=$10, now assuming quantity and variable cost remain the same, Create a new table and find the value of TC,AFC,AVC,ATC & MC.
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- Figure#5 Quantily of M&M's (or'o) 10 7. 6-7 Quantly ol Skittles 2. 6. 4.Ewa spends all her 600 PLN bonus on the purchase of sweets and cosmetics. Draw the Ewa's budget line, knowing that her favorite sweets cost PLN 10 per pack and the price of cosmetics is PLN 25. •How will Ewa's situation be affected by the PLN 50 bonus increase? •What will happen if the price of cosmetics increases to PLN 30? •How, from the point of view of initial situation, we will evaluate the following quantitative combinations: –30 packages of sweets and 15 cosmetics –60 packages of sweets and 24 cosmetics –20 packages of sweets and 10 cosmetics –10 packages of sweets and 15 cosmetics5.17. explain.
- Quantity of D 10 8 N 0 to 2 000 Refer to the budget line shown in the diagram. The absolute value of the slope of the budget line is Multiple Choice 4 6 8 10 Quantity of C two. one-half. five. ten. 20 10,981 AUG 22 < Prev 7 of 12 átv (@12. Answer please do;!. On a given evening, J. P. enjoys the consumption of cigars (c) and brandy (b) according to thefunctionU (c, b) = 20c - c2 +18b- 3b2.How many cigars and glasses of brandy does he consume during an evening? (Cost is no objectto J. P.)b. Lately, however, J. P. has been advised by his doctors that he should limit the sum of glasses ofbrandy and cigars consumed to 5. How many glasses of brandy and cigars will he consumeunder these circumstances?
- b. x= y2 - 4 3. P5-4-3-2-1 2. 3 el S 6 3) 1) Function? YES or NO Domain , Range thani you-Zoom Quiz Module 8 Qua 3 M Please see attached Filing x document com/courses/49637/quizzes/274167/take M Gmail B Translate For the following information, how much eggs will this consumer buy? You may assume they can buy fractions of goods. They will never buy more than 3 of any one item. Price Candy $2, Price Milk = $1, Price Eggs $0.50, Income $6. %3D Candy Milk Eggs 1st Bag or Carton 14 18 12 2nd Bag or Carton 10 3 2 3rd Bag or Carton 3 1 01 03 O 1.5Task 5: Consumption as young and consumption as old Now suppose Mary is thinking about her retirement and wants to understand how much to save. Today she can either con- sume or save for retirement. During her young, working life she will make 100.000 euros. Thus, her current budget constraint is Cy + S = 100.000. In her retirement she has no income, only the amount she saved as young. She can save at a rate of (1+r). So, her budget constraint as old is Co = (1+r)S. (a) Write Mary's lifetime budget constraint as plot it in a graph. Tip: Solve for savings while old and substitute in the young budget constraint. (b) Mary's utility from consumption as young and consumption as old is U(Cy,Co) = 1-0 Solve Mary's maximization problem. What is the MRS and the MRT? (c) Suppose Mary wins the lottery while young. What is the effect on her optimal decision for consumption as young and as old? (d) The local bank decided to increase the interest rate on savings. Discuss the effect of this increase…2. Ann has started working and is saving to buy a house, which requires a down-payment of d. She has a monthly income of y and faces goods prices pa and p3. Ann's utility function is given by u = 3 In a. + (1- 3) In a. %3D Her minimum standard of living renders a utility of uo. Solve for the minimum number of months it takes for Ann to save up to the down-payment, as a function of (d, y, uo, Pa, Ps).
- Givens: mar T1 2 0, x2 > 0 s.t. 8* + 4* T2 <1600 • The marginal utility of good 1: MU = 25 • The marginal utility of good 2: MU, = .75 * Equation Description: A consumer is attempting to maximize utility subject to a budget constraint. Utility equals the product of two terms: the first term is units of good 1 raised to the .25 power; and, the second term is units of good 2 raised to the .75 power. The price per unit of good 1 is $8; the price per unit of good 2 is $4: and, consumer income is $1600. Marginal utility of good 1 equals the product of three terms: the first term is .25; the second term is units of good 2 raised to the !75 power; the third term is units of good 1 raised to the -75 power. Marginal utility of good 2 equals the product of three terms: the first term is .75: the second term is units of good 1 raised to the .25 power; the third term is units of good 2 raised to the -.25 power. Question: What is the highest level of utility the consumer can achieve? O 150 utils O…Jien is just bored all the time; no amount of success makes him happy, it seems. Below is a list of his income for the last several years and the utility he experienced per dollar of income: Year Yearly Income Utility per Dollar Earned 2017 $60,000 2 utils 2018 $70,000 1.8 2019 $100,000 1.5 2020 $120,000 1 2021 $145,000 0.40 From the above, we can say that Jien most likely is different from most people economists study in terms of risk attitudes is "risk loving" will not take a fair bet has a utility of wealth curve that is a straight lineThe graph given below indicates Marshall's marginal utility for two products, A and B. Marginal utility 24 20 16 12 8 4 0 (1) Quantity 1 2 3 4 5 6 2 (2) Product A MU 4 Quantity of A: Quantity of B: 6 8 Quantity per period (3) Product A (4) MU per $ Product B (at $2) MU 10 Product A Product B 12 a) From the graph above, complete columns 2 and 4 of the table above. Round your answers to whole numbers. b) If the price of both products is $1, what quantity of each good would Marshall purchase if his budget was $8? Quantity of A: Quantity of B: c) Suppose that the price of product A increases to $2. Complete column 3 of table above. d) If Marshall's budget remained the same, what quantities of each good would he now purchase?
