Tutorial 3 1. Are there any goods or services where consumers do not experience diminishing marginal utility? Explain? (4 marks) 2. The table below shows the quantity and total utility obtained from consumption of good X. Fill in the blanks for marginal utility. (4 marks) Quantity | Total Utility | Marginal Utility | 1 | 40 | | 2 | 75 | | 3 | 105 | | 4 | 130 | | 5 | 150 | | (b) If price per unit of X is RM25‚ calculate the quantity of X that will maximise the utility
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Every living being in this world use languages to communicate with each other. There are many languages in this world such as English‚ Mandarin‚ Indonesian‚ etc. However‚ English language well known as international language. As well-known languages in this world‚ many people want to learn it while the other think learning English is not important. I would like to share my point of view about English‚ it is important or not. English is a worldwide language. Many books‚ magazine‚ technology‚ newspaper
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4a) His income is €300‚ so his budget constraint is the line between y=30 and x=75. The optimal choice (utility-maximizing) is shown by the point of tangency with his utility function. This is point E (and x =30). b) The budget constraint shifts to x = 120. The new optimal choice is point C (and x = 35). c) ΔY∙py = (30-22‚5)∙10 = €75 d) The total effect: Point E C e) Income effect: F C Substitution effect: E F f) Income effect < 0‚ so X is an inferior good. 5a) U(x‚y) = x1x2
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Celine-Alisha Wolff Assessment One: The Kingdom of Armorika GDP Per capita Gross Domestic Product per capita enables comparison of countries on an individual level. Using the total production output of the country and dividing it among its population. This allows a measurement of how wealthy a country is compared to how many people there live. The Kingdom’s GDP per capita is US$48‚010. Armorika GDP ranks between Germany with a GDP per capita of US$46‚268 and Canada with a GDP per capita of US$51
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PROBLEM SET AMY ECON 315: Labor Economics Spring 2015 Joseph Roskowski jmr6003 FAQs Do I have to type the homework? Yes! Homework must be typed. You will receive a zero for turning in hand written homework. You may draw graphs provided that they are neat and include all labels and arrows. Equations must be typed or you will lose 50% credit for that problem. Does it need to be stapled? You must staple your homework together. Unbound homework will lose 10% credit. Can I email it to you? NO! Homework
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Freezing Point Graph For Pure Solvent and Solution 85 82.5 80 77.5 Temperature (Celcius) 75 72.5 70 67.5 65 62.5 60 57.5 55 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 440 Time (seconds) Pure BHT BHT + pdB BHT + ??? The actual process may vary based on what version of Microsoft Office or OpenOffice.Org you are using‚ but it will be similar to the guidelines below. 1. Enter all your data values into a spreadsheet (Just like in the chart on the right)
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Executive Summary Peachtree is a successful and well-established healthcare organization with several institutions including hospitals‚ medical schools and clinics. With their broad market they have reached‚ they need to work on their IT system as the current system consumed so much maintenance time. They have several different incompatible IT systems in their organization amongst the institutions. Therefore Peachtree is looking or a reliable IT system to achieve their objective which is delivering
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Learning http://www.georgiasouthern.edu/ijsotl Vol. 2‚ No. 2 (July 2008) ISSN 1931-4744 @ Georgia Southern University The Impact of Grading on the Curve: A Simulation Analysis George Kulick Le Moyne College Syracuse‚ New York‚ USA kulick@lemoyne.edu Ronald Wright Le Moyne College Syracuse‚ New York‚ USA wright@lemoyne.edu Abstract Grading on the curve is a common practice in higher education. While there are many critics of the practice it still finds wide spread acceptance particularly in science
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class is stated on Figure 2. Table 3 shows the measurement on the amount of strawberry DNA extracted. In Figure 1 and Figure 2‚ the data will be presented Standard Curve Graph. The relationship between the concentration of Methylene Blue and the absorbance is expected to be a direct proportion. Figure 1: Standard Curve of light absorbance by ten different concentrations of Methylene Blue. The data of the figure is collected by our group Mitochondria. The relationship between two varieties
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Entorno Económico de la Empresa Tarea 5 1. The following events have occurred at times in the history of the United States: * A deep recession hits the world economy. * The world oil price rises sharply. * U.S. businesses expect future profits to fall. a. Explain for each event whether it changes short-run aggregate supply‚ long-run aggregate supply‚ aggregate demand‚ or some combination of them. A deep recession in the world economy decreases aggregate demand. A sharp rise in
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