Every player has a utility x₁+9x2 and they have a wealth of $10. There are 1 players. Good 1 costs $5. Good 2 costs $4. How much of good 2 is demanded in total?
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- The following table shows how much utility Taran gets from watching his favorite teams, measured in "utils" (units of satisfaction). Team Manchester United Seattle Kraken Seattle Mariners. Seattle Seahawks Seattle Sounders. Seattle Storm Utils 68 81 78 64 72 86 Suppose Taran can only watch one of his favorite teams play. Assuming the cost to watch each team is the same, which team will Taran choose to watch?True/ False Marginal utility decline with the increase in the unit of consumption of a good.Please Show Each and Every Working VERY CLEARLY! utility
- How do your total and marginal utility change as you stay at home watching the same TV show (not necessarily the same episode) alone all day?Good X 10 IC 8 ICZ 10 12 Good Y The utility a person gets from consuming an additional unit of Good Y at point A is greater on IC1 vs. IC2. The utility a person gets from consuming an additional unit of Good Y at point A is greater on IC2 vs. IC1.Marginal utility. Explain. Please be fast. I have a test. Only 15 mins left.
- Q- Marginal utility can never be negative. True/FalseAn Individual values two goods, X and Y, according to the following utility function: -1.14 U(X,Y)= 6 (0.5 X-0.88 +0.5 Y-0.88) The price of X is P4, and the price of Y is Py-4. The individual has 16 dollars. How much X and Y should this individual buy? (Round answers to the nearest two decimals. For example, 1.666 rounds to 1.67.) X Number Y Number2. Two consumers, Owen and Sylvan have preferences over two goods, X (on the horizontal axis) and Y. Owen's utility function is Uo (X, Y) = 12X + 3Y, while Sylvan's utility function is Us (X,Y) = 6X +8Y, where X, Y > 0. Owen has £120 to spend, while Sylvan has £168 to spend. The market demand and supply functions for good X are: Qax = 500 - 7P; Qsx 180 +9P. The market demand and supply functions for good Y are: Qay = 600 - 12P; Qsy = 120 + 8P. Which of the following is correct? = (a) Owen will purchase 6 units of good X and 0 units of good Y, while Sylvan will purchase 0 units of good X and 7 units of good Y. (b) Owen will purchase 0 units of good X and 5 units of good Y, while Sylvan will purchase 8.4 units of good X and 0 units of good Y.
- Marginal utility can also become negative True/FalseQuestion 10 Which of the following startements about network externalities is CORRECT? Air pollution is an example of a network externality. For a good with network externalities, the number of people who are willing to buy a unit of the good is uniquely determined by the price. Network externalities are always positive. The manufacturer of a new good with network externalities might give away a free version of the good. For a good with network externalities, one person's valuation of the good is always increasing in the number of other people using the good.Question 14 Marginal utility can be: decreasing, but not negative. positive, but not negative positive, negative, or zero. positive or negative, but not zero.
