Charlie likes both apples and bananas. he consumes nothing else. the consumption bundle where charlie consumes xa bushels of apples per year and xb bushels of bananas per year is written as (xa, xb). last year, charlie consumed 20 bushels of apples and 5 bushels of bananas.

Answers

Answer 1

Answer:

the question is incomplete:

It happens that the set of consumption bundles  (xA,xB) such that Charlie is indifferent between (xA,xB) and (20,5) is the set of all bundles such that xB = 100/xA. The set of bundles (xA,xB) such that Charlie is just indifferent between (xA,xB) and the bundle (10,15) is the set of bundles such that xB =  150/xA.

I also found the attached graph.

The requirements are:

Is (30,5) ≈ (10,15) true or false? Is (10,15) > (20,5) true or false? Is (20,5) ≥ (10,10) true or false? Is (24,4) ≥ (11,9.1) true or false? Is (11,14) > (2,49) true or false? A set is convex if for any two points in the set, the line segment between them is  also in the set. Is the set of bundles that Charlie weakly prefers to (20,5) a convex  set? Is the set of bundles that Charlie considers inferior to (20,5) a convex set? The slope of Charlie’s indifference curve through a point, (xA,xB), is known as his  ______________ ___ of ___________ at that point. Find Charlie’s marginal rate of substitution at the point (10,10). Find Charlie’s marginal rate of substitution at the point (5,20). Find Charlie’s marginal rate of substitution at the point (20,5). Do the indifference curves you have drawn for Charlie exhibit diminishing  marginal rates of substitution?

Answers:

true, they are on the same red linetrue, (10,15) is on the red line while (20,5) is on the blue linetrue, they are equivalent since both are on the blue linefalse, (11,9.1) is on the blue line and (24,4) is on the red linetrue, (11,14) is on the red line while (2,29) is on the blue portionyes, it is a convex set no, they are not a convex setThe slope of Charlie’s indifference curve through a point, (xA,xB), is known as his  RATE of SUBSTITUTION at that point. marginal rate of substitution at (10,10) = -10/10 = -1marginal rate of substitution at (5,20) = -20/5 = -4marginal rate of substitution at (20,5) = -5/20 = -1/4 = -0.25yes, this curves shows diminishing marginal rates of substitutions, e.g. goes from -4 to -1 to -0.25

Charlie Likes Both Apples And Bananas. He Consumes Nothing Else. The Consumption Bundle Where Charlie

Related Questions

While planning a new product launch, Cassandra knew that the art department was ready to work on the promotional pieces right away. But they are not able to start until the strategy group established the price point and the purchasing group obtained the paper needed to make the promotional piece. Establishing price points would take about a week and was dependent on manufacturing getting the costs to the strategy group. This was expected a week from today. The purchasing group indicated the paper could be obtained locally the same day it was requested. Based on this information and assuming things go according to plan, when will the art department be able to begin work on the promotional pieces?
A. 1 weekB. 1 monthC. 1 dayD. 2 weeks

Answers

Answer:

A. 1 week

Explanation:

This is true due to the fact that, Cassandra knew it would take about 1 week to establish the price point in the new product which she is planning to launch.

For the extra week it would have taken to get the paper could not hold again due to the fact that, it was already established that, it would take same day to get same paper rather than waiting for the paper to get to the strategy group in one week.

1. The point at which quantity demanded and quantity supplied are equal:______
2. The financial and opportunity costs con- sumers pay in searching for a good or service:_____
3. A system of allocating scarce goods and services by criteria other than price:_______
4. A sudden drop in the supply of a good:_______
5. Any situation in which quantity supplied exceeds quantity demanded:________
6. Any situation in which quantity demanded exceeds quantity supplied:________
7. A government-mandated minimum price that must be paid for a good or service:_________

Answers

Answer:

1. Market Equilibrium, 2. Interest Rate, 3. Rationing, 4. Supply Shock, 5. Excess Supply, 6. Excess Demand, 7. Price Floor

Explanation:

1. The point at which quantity demanded and quantity supplied are equal: Market Equilibrium

2. The financial and opportunity costs consumers pay in searching for a good or service : Interest Rate

3. A system of allocating scarce goods and services by criteria other than price: Rationing

4.  A sudden drop in the supply of a good: Supply (decrease - leftward shift) shock

5. Any situation in which quantity supplied exceeds quantity demanded: Excess Supply  

6. Any situation in which quantity demanded exceeds quantity supplied: Excess Demand

7. A government-mandated minimum price that must be paid for a good or service: Price Floor (Minimum Support Price)

James Smith recorded the following transactions during the month of April. Apr. 3 Cash 1,400 Service Revenue 1,400 16 Rent Expense 400 Cash 400 20 Salaries and Wages Expense 150 Cash 150 Post these entries to the Cash account of the general ledger to determine the ending balance in cash. The beginning balance in cash on April 1 was $1,900. (Post entries in the order of journal entries presented in the question.) Cash choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose a transaction date enter a debit balance choose a transaction date enter a credit balance.

Answers

Answer and Explanation:

The computation of the ending cash balance with the help of the cash ledger is presented below:

Cash account

Date   Particulars           Amount            Date    Particulars         AMount

April 1   Beg. Balance    $1,900             April 16  Rent expense   $400

April 3  Service revenue $1,400           April 20 Salaries & wages

                                                                             expense              $150

April 30 Ending balance $2,750

Craig was scheduled to attend a meeting about a new project, but the flu kept him at home. What can Craig do to catch up on the outcome of the meeting once he has recovered?

Answers

Answer:

Read the minutes from the meeting

Explanation:

At every formal meeting, there someone assigned to take minutes of the proceedings. The minutes detail the discussion and resolutions made at the meeting.

Once Craig has recovered, he should make efforts to get a copy of the minutes. By reading the minutes, Craig will be up to speed with the outcome of the meetings.

According to the video, what tasks commonly are performed by Cashiers? Check all that apply.

creating advertisements
receiving money
totaling bills
giving receipts
delivering products to customers’ homes
weighing produce and bulk food

Answers

Answer:

receiving money

totaling bills

giving receipts

Explanation:

Cashiers are workers stationed at cash registers. Their role revolves around receiving money, issuing receipts,  and disbursement of correct change as required. Cashiers work in many institutions, especially in the retail industry.

Cashiers' main task is to collect payment from customers. They have to be accurate when issuing receipts and giving back change. Cashiers have to reconcile their register at the end of the day.

Answer:

bcd

Explanation:

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