Question: HelloCan someone help me answer all this question please??Thanks (2). Using the following utility schedule, derive and sketch the consumer's a) Marginal Utility curve, and

HelloCan someone help me answer all this question please??Thanks

HelloCan someone help me answer all this question please??Thanks (2). Using the

(2). Using the following utility schedule, derive and sketch the consumer's a) Marginal Utility curve, and b) demand curve for chocolate Easter Bunnies (3 pts, each) Quantity (q) Total Utility (U) (4) Use the Gains from Trade argument to answer the following questions: 0 0 CARS FIGURE SIX aLAWN - U.S.'s PPE 40 $20 $20 PPF us 200 TEXTILES 18 16 CARS 14 JAPAN'S PPE 12 50 10 PPF 2 q 2 3 4 5 6 q 100 TEXTILES Marginal Utility Curve Consumer's Demand Curve a. Circle the correct answers; The U.S. has the comparative advantage in (cars, textiles), while Japan has the comparative advantage in (cars, textiles). (3 points) (3). A recent article in a business magazine reads: "In the past year, prices have fallen from $2000 to $1000 for a personal computer powered by a b. If the U.S. and Japan are autarkies (i.e., do not trade with the rest of the world), Pentium processor. This has resulted in a 100% increase in the number of computers sold." draw in each country's CPF (on Figure Six), and label each country's CPF: CPE arky. (1 points) a. What is the implied own-price elasticity of demand? (Show your work!) - 2 pts. c. Let the U.S. and Japan completely specialize in that which they have a comparative advantage, and begin trading with each other at the agreed upon "Terms of Trade" of 1 car trades for 4 textiles. Draw in each country's CPF (on Figure Six), and label each country's CPF: CPF wade. (Be sure to label the b. Is demand elastic or inelastic? Why? - 1 pts. intercepts for both axes.) (3 points) C. As the result of this price drop, would you expect the total amount spent by consumers on these PCs to rise or fall? Why? - 2 pts

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