Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 12, 2024

If Mary always consume 1 cup of coffee (x 1 ) with 2 teaspoons of sugar (x 2 ), then Mary's utility function is a.min

If Mary always consume 1 cup of coffee (x₁) with 2 teaspoons of sugar (x₂), then Mary's utility function is

a.min (x₁,2x₂)

b.x₁+2x₂

c.2x₁+x₂

d.min(2x₁,x₂)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics Theory Applications and Cases

Authors: Bruce Allen, Keith Weigelt, Neil A. Doherty, Edwin Mansfield

8th edition

978-0393124491, 393124495, 978-0039391277, 393912779, 978-0393912777

More Books

Students also viewed these Economics questions

Question

★★★★★

Kevin is an employee of One Hour Dry Cleaners, Inc. All employees of One Hour are eligible for a 40 percent discount on their dry cleaning. During the year, Kevin paid $300 for cleaning that normally...

Answered: 1 week ago

Question

★★★★★

Refer to Exercise 3.22, which listed the number of indictments handed out by the Gloucester County, New Jersey, Grand Jury during 11 randomly selected weeks from July 2010 to June 2011. The data are...

Answered: 1 week ago

Question

★★★★★

Consider this sample of n = 10 measurements: 1, 1, 0, 15, 2, 3, 4, 0, 1, 3 The measurement x = 15 appears to be unusually large. Calculate the z-score for this observation and state your conclusions.

Answered: 1 week ago

Question

★★★★★

Use Worksheet 8.1. Rachel Ehrlich is a 72-year-old widow who has recently been diagnosed with Alzheimers disease. She has limited financial assets of her own and has been living with her daughter...

Answered: 1 week ago

Question

★★★★★

Why is the question of taxes important in distributions to stockholders? What does todays tax environment suggest about the preference for one versus the other? What might a firm that holds...

Answered: 1 week ago

Question

★★★★★

Halifax Fitness Consulting completed the following petty cash transactions during February 2020: Required 1. Prepare a journal entry to record establishing the petty cash fund. 2. Prepare a summary...

Answered: 1 week ago

Question

★★★★★

(a) Use the Karnaugh Map to construct a logic circuit that accepts input is a binary code of a decimal digit and produces output 1 if the digit corresponding to the input is not divisible by 3....

Answered: 1 week ago

Question

★★★★★

Answered: 1 week ago

Question

★★★★★

Your company intends to invest in FinTrans, a fintech company that facilitates convenient transfer of funds across borders. You will be able to influence FinTrans' product development so that your...

Answered: 1 week ago

Question

★★★★★

Last chance to redeem my terrible drawings! h d3 m dz The simplified image above depicts how water towers provide pressure to homes in the surrounding area. A tower maintains a reservoir of water at...

Answered: 1 week ago

Question

★★★★★

Question 1: (Suggested 250 words per section) 1.1 What items might Susan present to the GM regarding the value of a green program in addition to the potential for business such as CERES? 1.2 What...

Answered: 1 week ago

Question

★★★★★

In your personal circumstances at this point in time, which would you prefer - a defined benefits plan or a defined contributions plan? Explain

Answered: 1 week ago

Question

★★★★★

22 Assume a par value of $1,000. Caspian Sea plans to issue a 10.00 year, annual pay bond that has a coupon rate of 8.05%. If the yield to maturity for the bond is 7.75%, what will the price of the...

Answered: 1 week ago

Question

★★★★★

8. Now spend two to three hours walking around listening to what people are saying. Place yourself in a place where you can hear what people are saying clearly and distinctly, for example in a cafe,...

Answered: 1 week ago

Question

★★★★★

5. Think through your own way of representing the world. What is your main pattern: Visually, verbally, emotions, smells, tastes?

Answered: 1 week ago

Question

★★★★★

1. Think of a situation in the workplace where you meet a person for the first time, which you know you will have a lot to do with in the future. a. Name three things about yourself that you will try...

Answered: 1 week ago

Previous Question Next Question