Consider the utility function u(x 1 , x 2 ) = x 1 x 2 . What
Question:
Consider the utility function u(x1, x2) = √x1x2. What kind of preferences does it represent? Is the function v(x1, x2) = x21x2 a monotonic transformation of u(x1, x2)? Is the function w(x1, x2) = x21x22 a monotonic transformation of u(x1, x2)?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (18 reviews)
The utility ...View the full answer
Answered By
Abdulafeez Adetunmbi
I am an accomplished STEM educator with professional class experience for over two years. I am particularly interested in impart-focused teaching. This has brought me into contact with students of various backgrounds and needs. Specifically, I have over the years prepared high-school students in terminal classes for external examinations with a high percentage of success.
My student-individuality principle has endeared me to several of my past and present students. I believe learning is a function of an individual and as such, teaching should be based on the type and challenges faced by the individual student. Hence, I try to categorically place my students into similar groups after identifying individual particular learning problems. This has in fact worked for a whole lot of my students over the years.
I hold a bachelor's degree in chemistry where I graduated top 5% of my graduating class. My tutoring interest includes majorly but not restricted to mathematics, chemistry and of course database management tools like SQL.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Basket A contains 1 unit of x1 and 5 units of x2. Basket B contains 5 units of x1 and 1 unit of x2. Basket C contains 3 units of x1 and 3 units of x2. Assume throughout that tastes are monotonic. A:...
-
In the 1970s, Disneyland charged an entrance fee to get into the park and then required customers to separately buy tickets for each ride once they were in the park. In the 1980s, Disneyland switched...
-
Ambrose, whom you met in the last chapter, continues to thrive on nuts and berries. You saw two of his indifference curves. One indifference curve had the equation x2 = 20 4 x1, and another...
-
What aspects of control must exist before a subsidiary is consolidated?
-
In its annual report to stockholders, Hakobe Inc. presents a condensed balance sheet with detailed data provided in supplementary schedules. 1. From the adjusted trial balance of Hakobe, prepare the...
-
Jennifer received an SAT score that was equal to the first quartile and the 35th percentile. Decide whether the statement make sense or not? Explain clearly.
-
What is the process for starting an appeal?
-
On August 1, 2015, Trico Technologies, an aeronautic electronics company, borrows $21 million cash to expand operations. The loan is made by FirstBanc Corp. under a short-term line of credit...
-
You are the manager of product development at Happy Trees, a company that produces art supplies. You have just received an email from a representative at Peapod Pigments that announces a shortage of...
-
26. In finding the De of Lance's score in Mathematics for the Third Quarter, he got the score 20. What does it mean? A. 8% of his scores are less than or equal to 20 B. 88% of his scores are less...
-
What kind of preferences are represented by a utility function of the form u(x 1 , x 2 ) = x 1 + x 2 ? Is the utility function v(x 1 , x 2 ) = x 2 1 + 2x 1 x 2 + x 2 a monotonic transformation of u(x...
-
If a firm is producing where MP 1 /w 1 > MP 2 /w 2 , what can it do to reduce costs but maintain the same output?
-
Kiwi Interests is a partnership with a tax year that ends on September 30, 2020. During that year, Kereru, a partner, received $2,000 per month as a guaranteed payment, and his share of partnership...
-
What information would you expect to see on a standard audit working paper?
-
Which of the following is an example of fraudulent financial reporting? a. Company management falsifies inventory count tags, thereby overstat- ing ending inventory and understating cost of sales. b....
-
Identify three criteria for expanded audit procedures.
-
Describe the method discussed in the chapter that is used to develop an audit program for expanded testing procedures.
-
For each of the following independent situations, indicate the type of report on ICFR you would issue. Justify your report choice. a. Johnson Company's management does not have an adequate antifraud...
-
A gambling casino records and plots the mean daily gain or loss from five blackjack tables on an x chart. The overall mean of the sample means and the standard deviation of the combined data over 40...
-
An item of depreciable machinery was acquired on 1 July 2009 for $120,000 by cash It is expected to have a useful life of 10 years and zero salvage value On 1 July 2012, it was decided to revalue the...
-
An area of land has been planted with Christmas trees. On December 1, ten years from now, the trees will be ready for harvest. At that time, the standing Christmas trees can be sold for $1,000 per...
-
Chillingsworth owns a large, poorly insulated home. His annual fuel bill for home heating averages $300 per year. An insulation contractor suggests to him the following options. Plan A. Insulate just...
-
Have you ever wondered if a college education is financially worthwhile? The U.S. Census Bureau collects data on income and education that throws some light on this question. A recent census...
-
How has the rise of digital communication platforms transformed business writing? Analyze the challenges and opportunities presented by these new modes of communication.
-
Municipality A has a population of approximately 90 000 with more or less 18000 households. Approximately 69% of the population resides in the local township area. Just over half of the Municipality...
-
What are the advantages and disadvantages of applying e-learning technology to K-12 curriculum? What potential obstacles or advantages can you see to the application of technology standards to adult...
Study smarter with the SolutionInn App