1. (5 points) See file uploaded for full paper information with Graphs. If have any questions feel free to ask. A consumer is at equilibrium at point A in the accompanying figure. The price of good X
1. (5 subject-matters) See rasp uploaded for liberal paper knowledge delay Graphs. If possess any questions handle exempt to ask.
A squanderr is at fashionweight at subject-matter A in the appertaining shape. The appraisement of cheerful-tempered-natured-natured X is $20.
(a) What is the appraisement of cheerful-tempered-natured-natured Y?
(b) What is the sum allowance (expenditure) of the squanderr?
(c) At subject-matter A, how frequent units of Good-natured X is the squanderr purchasing?
(d) If the squanderr spends his full allowance on cheerful-tempered-natured-natured X, how ample of X procure he squander?
(e) Suppose that the budget direction substitutes so that the squanderr is at a new fashionweight at subject-matter
B. What substitute could possess led to the recurrence of the budget direction in the deportment shown aloft? Please teach.
2. (5 subject-matters) A stockholder named Sue must character a expression for chair of the board. Sue prefers Mr. Lee to Ms. Doe, Ms. Doe to Mr. James, and Mr. James to Mr. Lee.
(a) Are Sue's preferences agreeing delay the explicit possessions? Please teach. (b) If all three candidates, Mr. Lee, Ms. Doe, and Mr. James are on the hazard at the identical term,
who would Sue expression for? Please teach.
3. (5 subject-matters) In the aloft shape a squanderr is initially at fashionweight at subject-matter C. The squanderr’s allowance is $400, and the budget direction through subject-matter C is consecrated by $400 = 100X 200Y. When the squanderr is consecrated a $100 gratuity certificate that is cheerful-tempered-natured-natured solely for effect X, she moves to a new fashionweight subject-matter at subject-matter D.
(a) What are the appraisements of X and Y?
(b) How frequent units of effect X procure be purchased at subject-matter B? Please teach.
(c) How frequent units of Effect X procure be purchased at subject-matter F? Please teach.
(d) Please dispose the parcels of cheerful-tempered-natureds A, B, C, D, from last preferred to most preferred (from
lowest usefulness or atonement to main usefulness of atonement).
4. (5 subject-matters) Suppose an individual's final scold of adherence is three hunks of pizza for one beer at the offer parcel of beer and pizza she is consuming. If the appraisement of beer is $1.00 and the appraisement of a hunk of pizza is $1.50, is the squanderr maximizing her well-being? If not, how should she substitute her decrement?
5. (5 subject-matters) Suppose a squanderr derives atonement from consuming hamburgers and hot dogs. Graph the budget direction of the squanderr inferior the self-assertion that he is offered a "buy two, get one exempt" communicate for hot dogs (name one exempt hot dog). Please imprint and fashion a graph.