Explain the nature of naomi utility function

Assignment Help Business Economics
Reference no: EM132124005

Naomi always eats bagels with 1 ounce of cream cheese. Each bagel eaten in this way provide 15 units of utility. Excess cream cheese or excess bagels do not add to Naomi's utility. Explain the nature of Naomi's utility function and indicate the form of her indifference curve map.

Reference no: EM132124005

Questions Cloud

Review problem of the pepsico : PepsiCo produces both a cola and a major brand of potato chips. Coca-Cola produces only drinks. When might it make sense for PepsiCo to divest its potato chip.
Constructing the facility and simply keeping the money : At what interest rate would an investor be indifferent between constructing the facility and simply keeping the money?
Advantages and disadvantages regarding the division of labor : Discuss three specific advantages and disadvantages regarding the division of labor?
Identify a target audience affected by the social issue : Your job is to provide those who hired you with an informative document about a communication-related concept of your choice( cyber bullying).
Explain the nature of naomi utility function : Excess cream cheese or excess bagels do not add to Naomi's utility. Explain the nature of Naomi's utility function and indicate the form of her indifference
What percentage of the world gdp has the global : By chance does any know What percentage of the world GDP has the Global 500 contributed most recently?
Compare and contrast the four market structures : If we compare and contrast the four market structures, it is evident that one market structure is most practiced and evident in the United States.
Describe the difference in economic profit : Describe the difference in economic profit between a competitive firm and a monopolist in both the short and long run
Comment on the culpability-responsibility : There are many we could blame for the "Sub-Prime" crisis. Please comment on the culpability & responsibility of the following: Wall Street Investment Firms

Reviews

Write a Review

Business Economics Questions & Answers

  Determine the after-tax internal rate of return

Wayne Moldings. Inc. has acquired a new die-casting mold at a cost of $2 million. Projected benefits from the mold for the next five years are: $350K, $450K. $500K. S350K. and S300K respectively. It is expected that at the end of the fifth year, the ..

  Why are values important in development economics

Why are values important in development economics? If we say that the economy of the Central African Republic is subsistence economy, what would that mean? According to The New Economic View of Development, why economic development is different from ..

  What would happen among these conditions

Primary, assume all retailers sell the basic version of Vista also Circuit City were to raise the price at which it sells Vista.

  Crowding-out occurs when

Crowding-out occurs when:

  Differentiate between negative and positive externalities

What are are externalities? Differentiate between negative and positive externalities? In your answer, provide an example of each and explain why they are negative or positive externalities.

  What is net present value of the project

(Algo) Approximately 14 million Americans are addicted to drugs and alcohol. The federal government estimates that these addicts cost the U.S. economy $300 billion in medical expenses and lost productivity. What is the net present value of the projec..

  Wage increase-what is the price elasticity of labor supply

Suppose a wage increase from $19 to $21 an hour increases the number of job applicants from 50 to 64. What is the price elasticity of labor supply?

  Microeconomic analysis and macroeconomic analysis

Explain the basic distinction between microeconomic analysis and macroeconomic analysis.

  Which characteristics do not fit this market structure well

Suppose that you own a 25 year old movie theater in Micropolis. It has 6 screens and a concession stand. Across town there is a 7 year old movie theater with 4 IMAX screens and 20 more regular screens.  Now that you have looked at these characteristi..

  Explain how much of current unemployment can be attribute

explain how much of the current unemployment can be attributed to cyclical factors.

  What is opecs optimal level of production

Suppose that, over the short run (say, the next five years), demand for OPEC oil is given by Q = 57.5 - .5P or, equivalently, P = 115 - 2Q. (Here Q is measured in millions of barrels per day.) OPEC’s marginal cost per barrel is $15. What is OPEC’s op..

  The long-run aggregate supply curve

The long-run aggregate supply curve

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd