Microeconomics (margin Utility) need clarification

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Microeconomics (margin Utility) need clarification

Someone was kind enough to help me with this question, but i was still confused on how they helped me with the first part of my question. The original question was: You go to an auction and set a maximum price of $100 you are willing to bid on an item. However, you are ...

microeconomics

This week you have gone to two parties. Assume the total utility you gained from these parties is 100utils. Then you go to a third party, and your total utility rises to 110utils. What is the marginal utility of the third party attended per week? Given the law of diminishing ...

microeconomics

Suppose a person has a utility function U=YX. What is the minimum level of income required to get a utility of 20? Your answer should be a function of, among other things, Px and Py.

microeconomics

Suppose your marginal utility for meals at the campus cafeteria this week has fallen to zero. Explain what has happened to your total utility curve derived from consuming these meals. Now explain what will happen to total utility if you eat more meals at the cafeteria this week.

marketing

how are: goods services utility form utility place utility time utility possession utility information utility benifits and occupational area ralated to marketing the deffinition for it is: the prosses o developing, promotng, and distributing products to satisfy customers ...

Microeconomics help please (urgent)

You go to an auction and set a maximum price of $100 you are willing to bid on an item. However, you are fortunate and purchase it for $50. 1) Does the lower price alter the marginal utility you originally placed on the item? 2) Is your potential total utility increased ...

microeconomics

what is meant by the term"utility" and how does the idea relate to purposeful behavior?

Microeconomics

Given the utility function U(C,T) = 3C+2T A budget constraint of $50, C = coffee which is $2 a cup, and T = tea which is $1.25 a cup, what is the optimal consumption bundle, and maximum utility possible? Also derive an expression for the demand curve for coffee given the price...

Algebra 2: Prob and Stats

A survey of 480 high school students found that 37% had a pet. Find the margin of error. Round to the nearest percent. Use the margin of error to find an interval that is likely to contain the true population proportion. * margin of error = +-5% interval, 37% to 42% * margin ...

Microeconomics

Assume that the marginal utilities for the first three units of a good consumed are 200, 150, and 125 respectively. What is the total utility for the first unit?

Microeconomics help please (urgent)

I just want an idea on how to do this, so will only post one example: For each of the following situations, decide whether the bundle Lakshani is thinking about consuming is optimal or not. If it is not optimal, how could Lakshani improve her overall level of utility? That is...

statistics

the average yearly utility costs on Middleton is $1722 with stdev of 146. assume that the utility costs follow a normal distribution. 1) What would the utility costs have to be so that only 7% of houses in Middleton have utility costs greater than this amount

microeconomics

Hi, I have to answer the following question: A person with the utility function U(x, y) = y + x^2 has convex preferences, true or false? I don't know how to do it, do I put U(x,y) = to a K and make up some bundles? Can someone please explains the step to solve this?

Math

An advertisement is to contain 75 sq.cms of printed area. There is a 2cm margin at the bottom, 3cm margin in each side and no margin at the top. Find the dimensions of the smallest possible poster.

physics

Hello everyone I'm working on this problem and I need some clarification. A 40 tonne jumbo jet accelerates down the runway at 5 m/s^2. What must be the thrust on each of its four engines? What is the horizontal force that a 700 N pilot exerts on his seat? I can calculate the ...

Econmics - Marginal Utility

total utility of total utility of cheeseburgers french fries 0 0 20 8 36 14 48 18 56 20 60 20 What is the utility-maximizing combination of cheeseburgers and french fries if cheeseburgers are $2 and french fries are $1 and you have $7 to spend (and you can spend all of it). ...

economics

how is marginal utility found? Marginal utility is the change in total utility divided by the change in the quantity consumed of a good. MU=ChangeinTU/ChangeinQG

Simple Math

Please explain to me what I need to do . A cable 35 feet long runs from the top of a utility pole to a point on the ground 30 feet from the base of the pole. How tall is the utility pole ?

Microeconomics

Mary's utility function is U(b,c)= b+ 100c - c^2. b takes up 1 sq ft and c takes up 4 sq ft. a) if Mary has only 144 sq ft, how much of c would she grow? b) if mary grows both b and c, how large must her garden be in sq ft?

Microeconomics

1. The utility function is given by: U=x+y and the budget line is x+2y=100. Then the price of good x goes up to 4. Find the Hicksian substitution effect, income effect, and total change in demand for good x from the change --- Ok i read the theory but i cant solve the problem ...

Soc. Studies - Help please

2nd time asking this question - need further clarification - please What was the outcome of the Alliance for Progress? A.Americans opposed Kennedy’s policies. B.Relations between the United States and Latin America improved. C.Relations between the United States and Latin ...

Micro econ

1: Suppose John had a utility function of U=X^2/3Y^1/3 . Derive Johns demand function from his utility function showing all the necessary steps. i know that the MUx=MUy and first i derive the equation to 2/3X^-1/3 1/3Y^-2/3 then im stuck i need help with the simplification

English - Need Clarification on Two Words

What does it mean to be an individual? (This is what I think, you have you're own identity, but I need to expand more and I can't think of anything...) I'm basically asking, what does it take to be an individual? What does it mean to have freedom? (I think it means having free...

Economics - Marginal Utility

If the price of a cheeseburger is $2 and the price of a bag of french fries is $1, and you have $7 to spend (and you can spend all of it). What is the utility-maximizing combination of cheeseburgers and french fries? Wouldn't that depend on the utility value of the cheesburger...

Marketing

I need help filling in the blanks for this price chain in marketing: Manufacturer's Price.............$15.55 Manufacturer's Variable Costs....$6.35 Manufacturer's $ Margin..........$9.20 Manufacturer's % Margin..........59.2% Wholesaler's Price...............$22.21 Wholesaler'...

math

9. A company that manufactures a specialty line of high performance racing boats has determined that its profit margin can be represented by the equation, PM(x)=-x^3+7x^2-10x, where x is in thousands of dollars. a) graph without technology. b) determine the production numbers ...

Statistics

A random sample of 14 college female students revealed their average height was 66.1 inches. a) How many students should be in a samle if a 95% confidence interval is to have a margin of error of only plus/minus 1 inch? Is that the only information you were given? Were you not...

Microeconomics

For being such a hard worker, you are going to receive $50 to spend this weekend. How are you going to spend your $50? Explain your choices in terms of the equimarginal rule. Could your utility be changed if you were to make other spending choices? Why/why not? I am not sure ...

Microeconomics: Consumer Theory

If the MU per dollar spent on wings is greater than the MU per dollar spent on pizza, JP will spend that dollar on wings because it adds more to his TU than if he spent it on pizza, i.e., he’ll buy more wings and less pizza. Suppose that JP was consuming so that his MUp/Pp &...

strategic marketing

Calculate the retailer margin as a percent of costs and also the retailer margin as percent of sales. Selling Price = $46; Cost = $23; Margin = $23

math

A company that manufactures a specialty line of high performance racing boats has determined that its profit margin can be represented by the equation, PM(x)=-x^3+7x^2-10x, where x is in thousands of dollars. a) graph without technology. b) determine the production numbers ...

microeconomics

Explain: Before economic growth, there were too few goods, after growth, there is too little time. It is irrational for an individual to take the time to be completely rational in economic decision making. Telling Satnt what you want for Christmas makes sense in terms of ...

microeconomics

Aneeta spends all her pocket money on chocolates(x)and icecream(y). Her utility function is U(x,y)= min(4x,2x+y). Aneeta consumes 15 chocolates and 10 icecreams. The price of chocolates is Rs.10. Find out her pocket money.

MICROECONOMICS

Question One: Assume Susan has $80 to spend on candies and chips each week and both goods must be purchased whole units (no fraction). The price of candies is $8 each and chips is $20. CANDIES CHIPS # of cans Total Utility (TU) Marginal Utility (MU) MU/P Consumer Surplus # of ...

Indifference Curves

For each example below, draw a set of three indifference curves that represent the given preferences. Be certain to show the direction of increasing utility. Also write down a utility function that would be consistent with the given preferences and use that utility function ...

STATISTIC

A study based on a sample of size 25 reported a mean of 94 with a margin of error of 15 for 95% confidence (a) Give the 95% confidence interval. (__________,________) (b) If you wanted 99% confidence for the same study, would your margin of error be greater than, equal to, or ...

microeconomics

7. For each of the following situations, decide whether the bundle Lakshani is thinking about consuming is optimal or not. If it is not optimal, how could Lakshani improve her overall level of utility? That is, determine which good she should spend more on and which good ...

microeconomics

Consider a competitive exchange economy with two agents(1&2)and two goods(X&Y). Agent 1's endowment of (X,Y) is (100,100)& agent 2's endowment of (X,Y) is (50,0).An allocation of agent i is denoted by (xi,yi)where xi is his allocation of X & yi is his allocation of Y.Agent1's ...

microeconomics

I am having problems with a microeconomics assignment can u help me

Calculus

In a poll of 400 voters in a certain state, 61% said that they opposed a voter ID bill that might hinder some legitimate voters from voting. The margin of error in the poll was reported as 4 percentage points (with a 95% degree of confidence). Which statement is correct? A. ...

Cost accounting

(High-low method) Information about SnoCos’ utility cost for the last six months of 2008 follows. The high-low method will be used to develop a cost formula to predict 2009 utility charges, and the number of machine hours has been found to be an appropriate cost driver. Data...

investing

How do I find stock on margin rate of return? This is the question: Ed Delahanty purchased 500 shares of Niagara Corporation stock on margin at the beginning of the year for $30 per share. The initial margin requirement was 55%. Ed paid 13% interest on the margin loan and ...

Managerial Accounting

Embleton Company estimates that variable costs will be 40% of sales, and fixed costs will total $975,400. The selling price of the product is $6. (a) Compute the following: (Round all answers to 0 decimal places. You will need to round contribution margin to 2 decimal places ...

economics

Suppose 15 peaches and 20 oranges need to be divided between fred and ethel. Fred's utility function is U=Max(#of peaches, #of oranges) ethels utility function is U=Max(2# peaches, # of oranges). Carefully draw a graph showing the set of Pareto efficient allocations.

Economics

2.The owner-manager of Good Guys Enterprises obtains utility from income(profit) and from having the firm behave in a socially conscious manner, such as making charitable contributions or civic expenditures. Can you set up the problem and derive the optimization conditions if ...

home economics

The owner-manager of Good Guys enterprises obtains utility from income (profit) and from having the firm behave in a socially conscious manner, such as making charitable contributions or civic expenditures. Can you set up a problem and derive the optimization conditions if the...

managerial economics

The Owner-manager of Good Guys Enterprises obtains utility from income (profit) and from having the firm behave in a socially conscious manner, such as making charitable contributions or civic expenditures. Can you set up the problem and derive the optimization conditions if ...

Economics

Luis’s utility function is u=x^.4y^.6 Suppose that Luis wants to get 60 utils, provide 4 bundles with which he can achieve that level of utility. Please explain

macro econ

Need help if bridget has wine and cheese. 4 bottle of wine at 10.00 and 4lbs of chesse 4.00. The last bottle of wine added 50 units to bridgt utility, while the last pound of cheese added 40 units. Is bridget makeing the utility maximaizing choice if so why if not why. My ...

Economics

What happens to the marginal utility per dollar of shoes if the priece of shoes goes up, and how should consumers respond to this to maximize utility

accounting

On Dec 28th Victor received the Utility bill for the month of December. He has not yet paid it but plans to pay it on January 5th. It was for $280. What do i debit and credit to utility expense and utilities?

economics

Suppose a person has a utility function U=YX. What is the minimum level of income required to get a utility of 20? Your answer should be a function of, among other things, Px and Py.

microeconomics

To what extent are the fundamental principles of microeconomics (like law of demand, law of substitution, consumer surplus etc )are applicable to macroeconomics?

ECONOMICS

Need examples of topics dealing with 2 Economic Concepts.... Meaning .. Like Gas prices .. deals with supply and demand along with goods and services. Which two economic concepts? Please explain your question. I reposted Another post stating what exactly what i was looking for...

Economics

What is more important to the consumer: Marginal utility or marginal utility per dollar and why

Maths

A painting 40 cm long and 28 cm wide is painted on a cardboard such that there is a margin of 2 cm along each of its sides find total area of margin

Finance

I did to get better clarification on how need to find the degree of operating leverage and how to calculate this, based on the information that I have - please help. I am not getting this piece..ty

Microeconomics

I need help with question, we havent covered this topic yet and i wanted to push ahead. Thanks. 'Consumers maximise utility subject to a budget constraint. Firms maximise output subject to a cost constraint'. Outline how the analysis of the firm's behaviour in terms of ...

Economics

The utility function of a consumer U(b,t)=Min(b,t) for where b=busfare and t=taxifare, b=3t for the same distance.For hundred times travel what will be the optimum number of busride and taxiride. If I understand your notation, bus fare costs 3 times a taxi fare. To maximize ...

microeconomics

to what extent are the fundamental principles of microeconomics (like law of demand, law of substitution, consumer surplus etc.) are applicable to macroeconomcs? please anyone provide me the answer as soon as possible.

math

THERE ARE ESTIMATES OF THE MARGIN OF ERROR FOR CONFIDENCE LEVELS OTHER THAN 95%. FOR A 90% CONFIDENCE LEVEL AND A SAMPLE SIZE N, THE MARGIN OF ERROR IS APPROXIMATELY 82/N%.SUPPOSE WE WISH TO HAVE A MARGIN OF ERROR OF 1% WITH A 90% CONFIDENCE LEVEL. APPROXIMATELY HOW MANY ...

calculus

You are designing a rectangular poster to contain 256 in^2 of printing with a 3-in. margin at the top and bottom and a 2-in. margin at each side. What overall dimensions will minimize the amount of paper used?

Calculas

Johnny is designing a rectangular poster to contain 15 in^2 of printing with a 5-in margin at the top and bottom and a 3-in margin at each side. What overall dimensions will minimize the amount of paper used?

finite!!!

A manufacturing company wants to maximize profits on products A,B, and C. The profit margin is $3 for A, $6 for B, and $15 C. The production requirements and departmental capacities are as follows: DEPARTMENT Prod. Requirements Dept. Capacity A B C (total hours) assembling 2 3...

Microeconomics

Mrs.Simpson buys loaves of bread and quarts of milk each week at prices of $1 and 80 cents, respectively. At present she is buying these products in amounts such that the marginal utilites from the last units purchased of the two products are 80 and 70 units, respectively. Is ...

physics

Details and assumptions Note: Points ABCDE are labeled for easy reference if you need to use some combination of them in a solution. Request clarification or dispute Print this

calculus

You are designing a rectangular poster to contain 256 in2 of printing with a 3-in. margin at the top and bottom and a 2-in. margin at each side. What overall dimensions will minimize the amount of paper used?

Ranjeet Singh Model School

A painting 8cm long and 5 cm wide is painted on a cardboard such that there is a margin of 1.5cm along each of its side, find the total area of the margin.

Psychology

I need help in developing an outline to explain the utility of social psychology within education so I can use as a guide to write a paper. I need to focus on both theory and application. PLEASE HELP!

Economics

I have a question about the marginal utility theory If someone is at consumer equilibrium consuming normal goods, will an increase to income increase total utility consumption of goods? An increase in income will increase total utility as well as consumption of normal goods. ...

Math -- Calculus

Some years from now you are working for a book publisher. Your boss asks you to give him a formula that will tell him the length and width of a book page that contains A square inches of printed text, a left margin of L inches, a right margin of R inches, a top margin of T ...

economics

The owner-manager of Good Guys Enterprises obtains utility from income (profit) and from having the firms behave in a socially conscious manner, such as making charitable contributions or civic expenditures. Can you set up the problem and derive the optimization conditions if ...

Economics

If utility is U(x,y) = x^0.3 y^0.7 (i.e x* = 0.3I/Px and y* = 0.7I/Py). What is the indirect utility function and expenditure function?

Economics

If utility is U(x,y) = xy + y, what is the indirect utility function and expenditure function?

Control systems

What is the gain margin and phase margin of this equation which represents transfer function of a unity feedback control system G(s)=(4(1+0.5s))÷(s (1+2s)(1+(s/20)+(s^2/8)))

Organic chem

I just need some clarification regarding SN1 reactions Okay...so a reaction with a secondary ALKYL HALiDE + CH3OH (Methanal), why is the nucleophile CH3O? why doesn't it dissociate to give CH3 and OH?

Physics(Please check)

A car (mass = 1140 kg) is traveling at 27.3 m/s when it collides head-on with a sport utility vehicle (mass = 2380 kg) traveling in the opposite direction. In the collision, the two vehicles come to a halt. At what speed was the sport utility vehicle traveling? I did 1140(27.3...

precalculus

Use the Intermediate Value Theorem and a graphing utility to find intervals of length 1 in which the polynomial is guaranteed to have a zero. Use the root feature of a graphing utility to approximate the zeros of the function. h(x)=x^4-10x^2+2

Economics

Why do people routinely stuff themselves at all-you-can-eat buffets? Explain in terms of both utility and demand theories. At any level, the marginal cost of take another bite at an all-you-can-eat place is zero. In terms of utility, a person should therefore consume until the...

college Econ

Suppose Fred and Ethel need to divide 20 pizza slices and 10 cans of beverage. Fred's utility function is given by the equation U=Min(Z,B), where Z is the amount of pizza and B is the amount of beverage. Ethel's utility is given by the equation U=Min(1/2Z,B). What are the ...

Calculus: need clarification to where the #'s go

A particle is moving along the curve y= 2 \sqrt{4 x + 4}. As the particle passes through the point (3, 8), its x-coordinate increases at a rate of 5 units per second. Find the rate of change of the distance from the particle to the origin at this instant. *I just need step by ...

Economics

Suppose Fred and Ethel need to divide 20 pizza slices and 10 cans of beverage. Fred's utility function is given by the equation U=Min(Z,B), where Z is the amount of pizza and B is the amount of beverage. Ethel's utility is given by the equation U=Min(1/2Z,B). What are the ...

geometry

A cable 22 feet long runs from the top of a utility pole to a point on the ground 15 feet from the base of the pole. How tall is the utility pole? - thanks!

algebra

A cable 25 feet long runs from the top of a utility pole to a point on the ground 18 feet from the base of the pole. How tall is the utility pole?

Free Enterprise

Is the definition of thinking at the margin basically saying if you don't have any specific numbers or the use of the one additional unit in the situation at hand, then it wouldn't be thinking at the margin?

Accounting

Spencer Company manufactures and sells three products. Relevant per unit data concerning each product are given below. Product A B C Selling price $9 $12 $14 Variable costs and expenses $3 $9.50 $12 Machine hours to produce 2 1 2 Compute the contribution margin per unit of the...

English

Hey guys, I was just wondering if you could help me find or explain to me media influence in the Hunger Games. I know this is a big part of the story, but I really need clarification. Thanks a lot guys!

HELP! Statistics

Which of the following statements about the margin of error is false? 1. Statisticians routinely construct interval estimates by making their point estimate the interval center and creating a range of other possible values, known as the margin of error, below and above the ...

Microeconomics

This is due Monday. I am not sure I am doing it correctly. Can someone help me out? Question: Assume that Jim is a rational customer who consumes only two goods, apples(A) and nuts(N). Assume also, that his marginal rate of substitution (MRS) of nuts for apples is given by the...

Ethics in Criminal Justice

The rational, overriding principle promoted by utilitarianism is the: A. Greatest number principle. B. Greatest happiness principle. C. Greatest utility principle. D. None of the above. Now my textbook mentions two in this sentence: "The rational, overriding principle promoted...

Aed

then i need help with this: about the utility of a single instructional practice across multiple learning styles

Calculus

This is the question - you are designing a rectangular poster to contain 256 in^2 of printing with a 3 " margin at the top & bottom and a 2 " margin at each side. What overall dinmensions will minimize the amount of paper used? Round to the nearest whole inch if necessary.

economics

apples cost £2 and pears cost £4. For John the marginal Utility (MU) of the last apple consumed was 4 and MU of pears was 12. For Paul MU of last apple was 3 and MU of last pear was 6. Which person is not maximising utility and how can you tell? What should they do?

economics

1.. Suppose that U(x; y) = min(x; y) with px = 1 and py = 1. Describe and illustrate the income and substitution effects of an increase in the price of good y. What does this imply about a tax imposed on good y.. 2.. Let U(x; y) = 5x:8y:2 showing all derivation work, find: (a...

mental factors

I don't really get mental factors of stress. I need more clarification of this and figure out its impact on living.

Grammar Advisor

Are these correct? I mark my answer with an X. 88. The reason to list all of the preliminary (non-procedural) information in a lesson plan is to be sure have considered each aspect. keep good records for your future needs. be able to communicate clearly with administrators, ...

Microeconomics

Is a technology that replaced workers worth developing? After all, it eliminates the need for human workforce?

Canadian history

I am reading this article Disease, Wilderness Warfare, and Imperial Relations: The Battle for Quebec, 1759--1760 I need to do critical analysis I believe I know what author is trying to argue but a little more clarification would be great.

Little flowers convent school

The length of a hall is 18m and width is 13.5. Find the least number of tiles required to cover the floor of wall without leaving any margin and leaving a margin ofor 1.5 all around?

Economics

If you choose between two summer jobs, what is the one you do not choose called? A. trade-off B. opportunity cost C. decision at the margin D. opportunity at the margin A?

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