Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

Suppose Roberta's only consumer choice is to pick the optimal amount of blue pens and black pans. No matter what combination of blue and black pens Roberta is holding, she is always willling to give up one black pens for two blue pens.

a. What is a utility function that describes Roberta's preference?

b. Illustrate an indifference curve that gives every bundle that Roberta trets as being exactly as good as when she has 5 black pens and 5 blue pens.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91697033

Have any Question?


Related Questions in Business Economics

A survey in whichnbsp400nbspadults from the

A survey in which 400 adults from the? East, 400 adults from the? South, 400 adults from the? Midwest, and 400adults from the West were asked if traffic congestion is a serious problem. Complete parts? (a) and? (b). (a) ...

Recent studies have confirmed that there is a relationship

Recent studies have confirmed that there is a relationship (r = -.43) between the average number of minutes someone spends text messaging during class and their final grade in that given class. Based on their data the fo ...

In a pre-election poll a candidate for district attorney

In a pre-election poll, a candidate for district attorney receives 379 of 750 votes. Assuming that the people polled represent a random sample of the voting population, test the claim that a majority of voters support th ...

The contents of a certain medication bottle show a normal

The contents of a certain medication bottle show a normal distribution with a mean of 250 ml. and standard deviation of 5 ml. What is the probability that the mean of the contents in a simple random sample of 4 such bott ...

Assume that a salesman learned the price elasticity of

Assume that a salesman learned the price elasticity of demand for his products is -2.0. How many percent will increase in the total sales (revenue) if he cuts the price by 10%? Show your calculation process.

What is comparative statics analysis and how does it

What is comparative statics analysis and How does it compare with sensitivity analysis ? What is analysis used in finance, accounting, and statistics?

Scores on a new version of the miller analogies test mat

Scores on a new version of the Miller Analogies test (MAT) taken during college students' senior year are correlated with their grades in graduate school two years later. The MAT correlated with GPA is .49. Which one is ...

A car company claims that the mean gas mileage for its

A car company claims that the mean gas mileage for its luxury sedan is at least 24 miles per gallon. A random sample of 7 cars has a mean gas mileage of 23 miles per gallon and a standard deviation of 2.4 miles per gallo ...

Find the minimum sample size necessary to be 99 confident

Find the minimum sample size necessary to be 99% confident that the population mean is within 3 units of the sample mean given that the population standard deviation is 29. (a) What is the critical value that corresponds ...

A sample of 36 us households is taken and the average

A sample of 36 U.S. households is taken and the average amount of newspaper garbage or recycling is found to be 27.8 pounds with a standard deviation of 2 pounds. Estimate, with 99% confidence, the mean amount of newspap ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As