Utility Maximizing Rule The consumer’s money income should be allocated so that the last dollar spent on each product yields the same amount of extra (marginal) utility. How should the $10 income be allocated? UTILITY MAXIMIZING COMBINATION Algebraic Restatement of the Utility Maximization Rule MUx/Px = MUy/Py = MUz/Pz 8 utils$1=16 utils$2 MARGINAL UTILITY-PRICE RATIO: The ratio of the marginal utility obtained from consuming a good to the price of the good. This ratio is particularly
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Internal validity - means that the conclusion which comes from an experiment is valid for the respondents who participated in the experiment. For any experimental design‚ we always require interval validity‚ without which experimental results are not interpretable. Threats to Internal Validity Selection - Subjects bring with them into the investigation unique characteristics‚ some learned and some inherent. Examples include sex‚ height‚ weight‚ color‚ attitude‚ personality‚ motor
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(10P) 2 = 173 100P2 = 86.5 P2 = .865 P = .93 5. The guidance system of a ship is controlled by a computer that has three major modules. In order for the computer to function properly‚ all three modules must function. Two of the modules have reliabilities of .97‚ and the
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Once a pool of potential candidates for police officer jobs has been established‚ the selection process begins. Candidates will be rated based upon the information gleaned from the recruitment process including an evaluation of each candidates Knowledge‚ Skills Abilities and Other relevant criteria. Candidates will progress through a series of events leading to becoming a New York City police officer beginning with a pre-hire interview‚ a medical exam‚ a written psychological profile exam‚ a physical
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UTILITY NUMERICALS 1. A consumer divides Rs.90 to be divided between two commodities X and Y‚ and suppose the unit price of Y is fixed at Re. 0.20. What will be his demand equation for X. If his utility function is U = log Qx + 2 log Qy. 2. A consumer has a monthly budget of Rs.4000. He spends all his income on two goods A & B. Price of A and B are Rs2 and Rs.4 respectively. His utility function is U = 3 log A+ 9log B. Find the optimum combination of A & B for the consumer
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government projects induce investors or suppliers Threats subject to such restrictions of laws effective within Manilla suppliers may be discouraged due to the cost of importing VI. Alternative Courses of Action: 1. Limit the numbers of jeepneys‚ utility vans and cabs; and introduce COMET. City Optimized and Managed Electric Transport (COMET) is a PUV designed like a jeepney and a bus which can be occupied by 20 passengers plus those who stand at the middle. Advantages. - better security: Wi-Fi‚
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institutions in Canada‚ and is a name many people recognize and trust. These two organizations are very different in many ways such as how they are managed‚ funded and even perceived. The goal of this report is to detail each organization’s recruitment and selection processes‚ and then compare them in terms of similarities and differences. The Canadian Forces Recruitment The Canadian Forces use a variety of tools to attract and retain its members. In the eyes of the world and Canadians a like‚ the CF are
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SPINE Volume 26‚ Number 10‚ pp 1167–1171 ©2001‚ Lippincott Williams & Wilkins‚ Inc. Reliability and Validity of the Active Straight Leg Raise Test in Posterior Pelvic Pain Since Pregnancy Jan M. A. Mens‚ MD‚*† Andry Vleeming‚ PhD‚* Chris J. Snijders‚ PhD‚‡ Bart W. Koes‚ PhD‚§ and Henk J. Stam‚ MD‚ PhD† Pregnancy is frequently complicated by the occurrence of lumbopelvic pain; the reported cumulative 9-month incidence ranges from 48%-56%.2‚4‚8‚12 Posterior pelvic pain since pregnancy (PPPP) is
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Apply Your Skills: Ethical Dilemma Can Management Afford to Look the Other Way? Harry Rull had been with Shellington Pharmaceuticals for 30 years. After a tour of duty in the various plants and seven years overseas‚ Harry was back at headquarters‚ looking forward to his new role as vice president of U.S. marketing. Two weeks into his new job‚ Harry received some unsettling news about one of the managers that he supervises. During a casual lunch conversation‚ Sally Barton‚ the director of human
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Answers to Exercises Microeconomic Analysis Third Edition Hal R. Varian University of California at Berkeley W. W. Norton & Company • New York • London Copyright c 1992‚ 1984‚ 1978 by W. W. Norton & Company‚ Inc. All rights reserved Printed in the United States of America THIRD EDITION 0-393-96282-2 W. W. Norton & Company‚ Inc.‚ 500 Fifth Avenue‚ New York‚ N.Y. 10110 W. W. Norton Ltd.‚ 10 Coptic Street‚ London WC1A 1PU 234567890 ANSWERS Chapter 1. Technology 1
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