Assume that a consumer consumes two commodities X and Y and makes five combinations for the two commodities TABLE GIVEN BELOW Combination Units of X Units of Y A 25 3 B 20 5 C 16 10 D 13 18 E 11 28 Calculate Marginal rate of Substitution and explain the answer (10 Marks) The answer should be in a w...

Answer From the given data table Combination Unit of X Unit of Y A 25 3 B ...

Assume that a consumer consumes two commodities X and Y and makes five combinations for the two

Fantastic news! We've Found the answer you've been seeking!

Question:

Assume that a consumer consumes two commodities X and Y and makes five combinations for the two commodities:

TABLE GIVEN BELOW

Combination	Units of X	Units of Y
A	25	3
B	20	5
C	16	10
D	13	18
E	11	28

Calculate Marginal rate of Substitution and explain the answer. (10 Marks)

The answer should be in a word format, Do not write the in-plane paper. It should be a plagiarism-free. And a min of 800 words

Related Book For answer-question

Matlab An Introduction with Applications

ISBN: 978-1118629864

5th edition

Authors: Amos Gilat

See More Books

Posted Date: Jul 25, 2020 02:29 AM

See More Questions

3. (a) Suppose a consumer consumes two commodities X and Y. To be on the same utility level, the consumer is always willing to give up exactly 3 units of Y for an additional unit of X. Price of X is...
Assume that a consumer with lexicographic preferences over two commodities requires a positive amount of both commodities so that consumption set X = 2++. Show that no optimal choice exists.
Assume that a consumer has a budget of $45 to allocate over two products, milk (M) and bread (B). The price of milk is PM = $4:50 and the price of bread is PB = $5:50. 1(a): Draw a graph of the...
a. Find the nth-order Taylor polynomials for the given function centered at the given point a, for n = 0, 1, and 2.b. Graph the Taylor polynomials and the function. f(x) = ln x, a e =
As presented in Global Perspective 16-3, the rampant gray market of iPhone largely resulted from Apple's international strategy. In order to reduce and control gray market, what strategies should...
Suppose you need to send one message to three different users: userl@example.com, user2@example.com, and user3@example.com. Is there any difference between sending one separate message per user and...
A testing laboratory requires a new DRIE machine with a cost of $\$ 499,000$, and in this high-tech industry the machine will have a salvage value of $\$ 40,000$ at the end of 10 years of service....
Practice calculating the sample size and the number of expected errors in attributes sampling by using the tables in Exhibit and the following combinations ofinputs: Tolerable Rate of x Sample Size...
An underground fire service main in a methanol plant consists of glass reinforced plastic material. The piping is rated for 200 psi. The pump's churn pressure is rated at 280 psi. Numerous leaks have...
8 91426 10 11 (CCM) builds furniture for a range of commercial customers. They build furniture used in hotels and department stores, on cruise liners, ferries and passenger aircraft. One of their...
Was social stratification a necessity for the industrial revolution to exist? Why or why not?
Willingness to Pay for Insurance. Frank Black has finally quit playing guitar for the Pixies, and has decided to pursue a lifelong dream of his, generating power through small-scale electricity...
In this assignment, you will examine GDP for different countries and the factors that lead to different rates of economic growth among countries and you will be asked for your economic advice.
Week 9 Pricing- Wellness Cruises Discussion Questions Wellness Cruises, Inc. packages exclusive cruises to Mediterranean destinations such as Athens and Barcelona. Like conventional cruises, the...
Consider an economy whose current saving rate (s) is lower than its golden rule saving rate (SGOLD). Assume that the economy has a positive depreciation rate, population growth rate and growth rate...
Use A- to decode the cryptogram. 2 2 7 -1-4-7 13 19 10 -1 -33 -77 3 -2 -14 4 1 -9 -5 -25 -47 4 1 -9 A = 1 3 9 r
For this assignment, you will be working with a partner. Please refer to the Announcements for a list of assigned partners. Then, refer to the "Job Analysis: Writing Job Descriptions" case in the...
Write a function that reads a Float24_t value: Float24_t float24_read(void) A legitimate float24 value string is of the form: "mantissabexponent" where the mantissa (m) and the exponent (e) may have...
Use MATLAB to calculate the following integral: (a) (b) c0 0.5x3 212Nx 0.5 COS 1.22x (x+2)2/ (o12)
The population growth of species with limited capacity can be modeled by the equation: dN/dt = kN(NM - N) where N is the population size, NM is the limiting number for the population, and k is a...
The relation between the tension T and the steady shortening velocity v in a muscle is given by the Hill equation: (T + a)(v + b) = (T0 + a)b where a and b are positive constants and T0 is the...
As problems 5.18 and 5.19 reflect, the air temperature in the test section of conventional hypersonic wind tunnels is low. In reality, air liquefies at a temperature of about $50 \mathrm{~K}$...
The reservoir temperature calculated in problem 5.20 is beyond the capabilities of heaters in the reservoir of continuous-flow wind tunnels using air. This is why you do not see a Mach 20...
Write the $y$ component of Eq. (6.7), and use it to derive Eq. (6.12). Equation 6.12: $\frac{\partial(ho v)}{\partial t}+abla \cdot(ho v \mathbf{V})=-\frac{\partial p}{\partial y}+ho f_y$ V pfd7...

Assume that a consumer consumes two commodities X and Y and makes five combinations for the two

Question:

Expert Answer:

Answer From the given data table Combination Unit of X Unit of Y A 25 3 B ... View the full answer

Matlab An Introduction with Applications

Students also viewed these economics questions