Indifferent between the bundles

Assignment Help Business Economics
Reference no: EM13860990

Toby is indifferent between the bundles (9, 3) and (5, 5). When Toby is at (9, 3), he would be willing to give up one unit of y if he were to receive two units of x. If Toby is at (5, 5), he would be willing to give up four units of x if he were to receive two units of y. Give two possible utility functions for Toby for goods x and y. Hint: draw a graph.

Reference no: EM13860990

Questions Cloud

How does an applet get loaded into the browser : How does an applet get loaded into the browser? What is needed in the APPLET tag to cause an applet to be loaded from a JAR file?
Outline the qualitative research appear in section : outline that incorporates your qualitative research. (Note that in some outlines, qualitative research may appear in more than one section - check your outline!) Whatever approach your outline takes, for your qualitative research, you may want to ..
Describe the elements of a cost schedule : Describe the cost function and explain the difference between a short-run and a long-run cost function. Describe the elements of a cost schedule which can be derived total, fixed, and variable costs. Compare and contrast the short-run cost function a..
How do you manage cookies in applet-servlet communication : When you communicate with a servlet from an Applet or an application, how can you ensure that the session information is preserved? That is, how do you manage cookies in applet-servlet communication?
Indifferent between the bundles : Toby is indifferent between the bundles (9, 3) and (5, 5). When Toby is at (9, 3), he would be willing to give up one unit of y if he were to receive two units of x. If Toby is at (5, 5), he would be willing to give up four units of x if he were to r..
Calculating the price elasticity of demand : Suppose that during the past year, the price of a laptop computer fell from $2,650 to $2,430. During the same time period, consumer sales increased from 495,000 to 664,000 laptops. Calculate the elasticity of demand between these two price–quantity c..
Equity has no place in commercial law : Equity has no place in commercial law. Businesspersons require certainty in their dealings and the imposition of equitable principles upon commercial transactions will render the law unacceptably uncertain.' Do you agree with this statement? Provide ..
Question regarding the change in total stockholders : Which of the following transactions would cause a change in total stockholders' equity?
How calculate the elasticity of demand : Calculate the elasticity of demand, using the point formula

Reviews

Write a Review

 

Business Economics Questions & Answers

  Illustrate what dollar amount will the profit margin

illustrate what dollar amount will the profit margin.

  Comparative advantage in producing wakeboards

Ryan and Asha produce water skis and wakeboards. The first table shows Ryan’s production possibilities and the second table shows Asha’s production possibilities. Each week, Ryan produces 5 wakeboards and 40 water skis and Asha produces 10 wakeboards..

  Provide support for your rationale

rite a four to five (4-5) page paper in which you: 1.Describe the business and explain the general pattern of change of the particular market model indicating how this change is likely to impact business operations.

  Expected chances of finding

You believe that there is an equally likely chance that this information will either double expected chances of finding a well, or inform you for certain that the area is not commercial.

  How do wheatley ideas support the new business realities

Describe Wheatley theories and perspectives of leadership and organization. How do Wheatley's ideas support the new business realities?

  Yield curve increases after decrease in federal funds rate

If the slope of the yield curve increases (steepens) after a decrease in the federal funds rate:

  Qbefore the gulf war kuwait had the capacity to produce a

q.before the gulf war kuwait had the capacity to produce a certain amount of oil from its oil wells. after the war it

  Growing populations and booming economics add to challenge

In what specific way do growing populations and booming economics add to the challenge of reducing GHG emissions? To what extent might these characteristics explain the failure of some countries to meet their Kyoto targets?

  How might oligopolistic increase

How might oligopolistic increase total revenue without changing prices.

  What is your bottom line in negotiations with the telecom

What is your bottom line in negotiations with the telecom? Suppose you agree on a price slightly above your bottom line.

  What would you do shut down or continue to operate

Illustrate what would you do shut down or continue to operate. Use hypothetical numbers to explain.

  Determine the volume of production

what are factors that determine the volume of production

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd