Answer Question given below.

The table below presents Sam’s utility from the consumption of French fries (FF) and onion rings (OR) during a week. The price of French Fries is Rs.2 per order and the price of Onion Rings is Rs.1

· Order of FF - 1, 2, 3, 4, 5, 6, 7 · Total Utility from FF - 40, 72, 100, 124, 144, 160, 172 · Order of OR - 1, 2, 3, 4, 5, 6, 7 · Total Utility of OR - 28,, 52, 72, 88, 102, 114, 122 Sams’s allowance for purchasing these two products is Rs.8 per week. Assuming he spent his entire allowance on French Fries and Onion rings.

How many orders of each product will sam consume each week if he maximizes his utility? Show your wokings.
Show that the utility maximizing condition is satisfied.
What is the total utility value? If instead, sam consumed 3 orders of FF and 2 orders of OR, explain why he not be maximizing his utility. Use the equilibrium condition to answer this question.
Now he supposes the price onion rings doubles to Rs.2 per order (everything remains unchanged), how many orders of French fries and onion rings will sam now purchase per week to maximize his total utility?
Given your answer above, calculate the price elasticity of demand for onion rings. (Use midpoint method)

HHAVH

almost 5 years ago

Economics

to see other 1 answers

Answer Question given below

Answer the following questions using SQL statements by referring the following relational schema. Note that the keys of the relations are underlined.

Employee (employee-name, city) Works (employee-name, Company-name, salary) Company (Company-name, city) i) Find the names, street address, and cities of residence who than $ 10,000. ii) Find the names of all employees in the database who live in the same cities as the companies for which they work. iii) Find the names of all employees in the database who do not work for ‘First Bank Corporation’. Assume that all people work for exactly one company. iv) Find the names of all employees in the database who earn more than every employee of ‘Small Bank Corporation’. Assume that all people work for at most one company. v) Find the names of all employees who earn more than the average salary of all employees of their company. Assume that all people work for at most one company.

HHAVH

almost 5 years ago

Animal husbandry

Answer Question given below

Explain characteristics of proteinaceous roughages with example.

arien

over 13 years ago

Economics

"Negative Excess Demand is? Option are given below: "

"a. cannot exist. b. occurs when price is below the equilibrium level. c. means producers wish to sell less than consumers wish to buy. d. is the same thing as excess supply. "

logic-masekesa

over 2 years ago

Information Technology

How to solve the question below

QUESTION a) Create a spreadsheet with the following entries:  B2 = CHICKEN INN  A4 = FOOD ITEM  A5 = PORTION CHIPS  A6 = SADZA & STEW  A7 = RICE & CHICKEN  A8 = HAMBURGER  A9 = SOFT DRINKS  C10 = SUB TOTAL  C11 = SUB TAX @ 15%  C12 = TOTAL COST  B4 = QUANTITY  B5 = 3  B6 = 1  B7 = 1  B8 = 2  B9 = 3  C4 = UNIT COST  C5 = $135.00  C6 = $180.00  C7 = $200.00  C8 = $170.50  C9 = $65.00  D4 = COST AND PERFORM THE FOLLOWING: i. Make B2 bold, underlined and size 16. ii. Make all headings, i.e. A4 – D4, bold. iii. Put borders on all entries of the sheet. iv. Save document as Qn2data and print it. (10 marks) b) Input the formulae for the cost price of each item D5 – D9(5 marks) c) Input the formulae for the calculated amounts for subtotals, sales tax and total cost in D10 – D12 respectively. (3 marks) d) Create the Pie Graph for the Food Item and Quantity Columns. The pie chart should have an appropriate title, legend, and each portion should show the percentage occupied by each item. (6 marks) e) Save the document as Qn2chicken and print it.(1 mark) f) Show formulas you have used in a new sheet and save it as formulas. (5 marks)