Reference no: EM131232538
1. Professor S. gives two assignments in her class. She uses the higher of the two grades when she wants to calculate the final grade for the course.
(a) Suppose x1 represents the grade for assignment 1 and x2 shows the grade for assign- ment 2. Alice wants to maximize her grade. On a graph draw an indifference curve showing all the combinations that Alice likes as much as x1 = 80 and x2 = 40. Draw another indifference curve showing all the combinations that Alice likes as much as x1 =70andx2 =70.
(b) Does Alice have convex preferences over these combinations?
(c) Observing that students do not study hard, Professor S. changes her policy to using the lower of the two grades to calculate the course grade. With a different color, draw an indifference curve showing all the combinations that Alice likes as much as x1 = 80 and x2 = 40. Draw another indifference curve showing all the combinations that Alice likes as much as x1 = 70 and x2 = 70.
(d) Does Alice have convex preferences over these combination
2. Construct a representative indifference curve for each of the following situations. Describe the preferences in each case.
(a) The two goods are dimes (10¢) and loonies ($1)
(b) The two goods are money and oysters, and eating more than a certain number of oysters makes consumer sick.
(c) The two goods are right gloves and left gloves and the consumer has two hands.
(d) The two goods are right gloves and left gloves and the consumer has only one hand.
|
Determine the final pressure and temperature
: Write a program for Problem 3.163, where the initial state, the volume ratio, and the polytropic exponent are input variables. To simplify the formulation, use constant specific heat.
|
|
Replacement windows were a necessary improvement
: You may think these are too hard, but I know I have 4 of these already, and one (cedar siding) came with my incredibly cheaply built home (the replacement windows were a necessary improvement).
|
|
What steps should have been taken to address the issues
: Discuss a time when you have been a member of a team that has not performed well. Why was the team not effective? What role did the leader play in the team's inability to perform? What steps should have been taken to address the issues?
|
|
Why is the author writing about the subject
: Locate an academic article published within the last 3 years that addresses some aspect of contracts. Write a summary of 500-750 words that addresses the following questions: Why is the author writing about the subject
|
|
Construct a representative indifference curve
: Construct a representative indifference curve for each of the following situations. Describe the preferences in each case. (a) The two goods are dimes (10¢) and loonies ($1)
|
|
Write a report investigating the key management issues
: ENGE60 Pike River Mine disaster Assignment Brief - Analyse the key management issues that contributed to the mining disaster and brief overview of the key points covered in the report
|
|
Find the symmetric nash equilibrium
: Consider a market that consists of n ≥ 2 identical firms. Each firm produces output at a constant average and marginal cost of 2. The market demand curve in this industry p = 20 - 2Q, where Q is market demand and p is price. Firms will choose ou..
|
|
What was your decision-making behavior
: Consider the restaurant purchase you made in question 5. What was your decision-making behavior? Was it a routine, complex, or limited problem-solving situation? Identify which behavior and explain how the level of involvement played into your dec..
|
|
Increase or decrease the supply of cell phones
: Using the supply curve shifters (SPEND) explain whether each of the following will increase or decrease the supply of cell phones. Tell whether the supply curve shifters to the right or to the left.
|