Oscar consumes both video games and Pepsi.
a. Given the table, what is Oscar’s total utility from purchasing three video games and 2 Pepsis?
b. Assume that Oscar has a weekly income of $20. If the price of a video game is $5 and the price of Pepsi is $2, what quantity of video games and Pepsi maximizes Oscar’s utility (he does not use his money for any other purchases)?
c. Assume that the price of Coca Cola drops. Does this increase, decrease, or not change Oscar’s demand for Pepsi?
d. Suppose that Oscar’s income elasticity for Pepsi is -0.5. Does the value of Oscar’s income elasticity indicate that Pepsi is a normal good, an inferior good, a substitute, or a complement?
e. Suppose that when the price of video games increases by 20 percent, Oscar buys 10 percent fewer video games and 2 percent less of other computer equipment. Calculate the cross-price elasticity for video games and computer equipment and indicate if it is positive or negative.
Answers
A) Oscar's Total utility from purchasing 3 video games and 2 pepsis = 21
B) The quantity of video games and Pepsi maximizes Oscar’s utility = 2 video games and 5 Pepsi
C) When the price of Coca cola drops : Oscars' demand for pepsi will drop
D) Pepsi is an Inferior good because it has a negative income elasticity
E) The cross-price elasticity for video games and computer equipment is : Positive
Analysis of the solutionsA) The total utility from purchasing 3 video games and 2 pepsis
marginal utility of 3 videos games = 12
marginal utility of 2 pepsi = 9
therefore total utility = 12 + 9 = 21
B) The quantity of video games and Pepsi maximizes Oscar’s utility
The quantity of video games with the maximum utility ( 20 ) = 1
The quantity of video games with the maximum utility ( 10 ) = 1
Given that :
Oscars weekly income = $20
price of video game = $5
price of pepsi = $2
After the first purchase of video games and pepsi
$20 - $7 = $13
after the next purchase
$13 - $7 = $6
The balance $6 will purchase 3 more pepsi
Therefore the quantity of Video games to be purchased = 2 ( $10 ) (i.e. 15 utility )
Quantity of Pepsi to be purchased = 5 ( $10 ) ( i.e. 6 utility )
C) When the price of Coca cola drops Oscars' demand for Pepsi will drop as Coca cola is a competitor/superior product.
D) Pepsi is an inferior good
E) The cross price elasticity for video games and computer equipment is positive
Hence we can conclude that the answers to your question are as listed above
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Related Questions
Which product is an example of a consumer good?
A. Stock share in a tech company
B. dog food for a pet boarding family
c. paint sprayer for an autobody shop
d. gallon of milk to use in a bowl of cereal
Answers
A. Stock shares in a tech company are an example of a consumer good.
What is considered a consumer good?Consumer goods are merchandise bought for consumption by using the common consumer. Rather referred to as final items, client goods are the cease result of production and production and are what a client will see stocked on the store shelf. Garb, meals, and jewelry are all examples of customer items.
Examples are digital items, kitchen appliances, and entertainment systems. they have a longer software price than FMCG goods, and clients require fewer repeat purchases of durables.
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Answer:
D
Explanation:
i took the test
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Answer:
temperature and pressure are the two factors which are responsible for change in States matter
insolist on increasing the temperature there will be increased in the number of collision between the particles as a result enter molecular force and attraction will decrease their four the state of solid will change to liquid
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Which of the following of the U.S. Constitution can be excluded and
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Answer:
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Jaguar and crocodile provided protein in the maya diet
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Answer:
True
Explanation:
These animals made habitat in the same location as the mayans and became a local food source for them.
What do you think is the single most important source of growth for the U.S. economy?
Explain the rationale for the source of growth that you identify.
Answers
Answer:
More than 70 percent of the increased output growth can be attributed to non-IT products. Capital investment has been the most important source of U.S. economic growth throughout the postwar period. The relentless decline in the prices of IT equipment has steadily enhanced the role of IT investment.
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Answer:
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What are the points of convergence and divergence in the approaches to waste management of two specified wastes in a named country?
Answers
Point convergence helps to identify locations that are specified for waste disposal.
What are the point of convergence?Point of convergence is used to identify assembly point of waste i.e where waste are dumped while divergence is used to identify the various channels with which waste is deposited.
Therefore, Point convergence helps to identify locations that are specified for waste disposal.
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Cannot contribute directly to a politicians campaign
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Answer: Private parties
Explanation:
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what Vroom’s Expectancy model (major assumption, components, strength and weakness of the theory) In theories of Motivation?
Answers
The Expectancy theory considers the expectations of employees from their work as the base for the succession of the model.
What is expectancy theory?Expectancy theory, proposed by Vroom, is a theory which is based on the model of what and how do the employees see or expect themselves to get rewarded for their efforts.
The assumption of the expectancy theory is that the employees work solely for the purpose, which does not conflict to their self-interest, and wish to get rewarded comprehensively as a result of the same.
The strength of the expectancy theory relates to the fact that it gives more focus on the expectations and predictions, as the actual results are considered as immaterial.
The weakness of the expectancy theory is that there are other different methods or factors through which an employee may get motivated.
Hence, the significance of the expectancy theory is aforementioned.
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ASAP plsssss!
What are two types of oligarchies?
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reliably consistent judgement.
exceptionally neutral evaluation.
extremely precise consideration.
swiftly determined punishment.
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Answer:
exceptionally neutral evaluation.
Explanation:
Present your views on the following statement: 3. "छुवाछुत तथा भेदभाव सम्बन्धी कसूर गरेमा ३ महिनादेखि ३ वर्षसम्म लाख सम्म जरिवाना हुन्छ ।”
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Answer:
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Historically, automation has been one of the biggest ways to reduce labor costs in a business. This will probably continue as AI becomes more flexible and capable.
However, a lot of current businesses are reducing labor costs by outsourcing major aspects of their business, paying a fixed amount for results, and letting someone else deal with the costs of hiring, supervising, and firing employees. There are some gray areas where firms are having things done by people they describe as “independent contractors,” but who are being supervised like employees. And even when the individual is indeed an independent contractor (frex, someone who is driving for Uber, Lyft, and Diner Dash, picking up whichever gigs pay the best from moment to moment), often the person thinking more like an employee than an entrepreneur, putting their money from their gigs straight into their account as if it were a paycheck, not considering the expenses of their gig work as business expenses, etc.
explain the importance of life skill for an individual
Answers
Answer:
Life skills can help you communicate, make decisions, and develop a good set of social skills. Basically social competence.
Explanation:
negative impact of prank calling
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- the prank could backfire
- someone might get upset and press charges against you
- the prank could go wrong and end your reputation
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Answer:
legislative -- the exercise of the power and function of making rules (such as laws) that have the force of authority by virtue of their promulgation by an official organ of a state or other organization {OCCURES WITHIN THE COUNTRY} Events - the final outcome or determination of a legal action
Explanation:
Case Study Kenya Airways Flies High with Customer Relationship Management
How effective was this solution? How did it affect the way Kenya Airways ran its business and its business performance?
Answers
Kenya Airways is known to have an unsatisfactory and lingering issues with customers relationship and because running their business with CRM, they were able to effectively handle it
What was the main cause of failure of Kenya Airways?A key factor to the fall of Kenya Airways was Poor customer relations as this lead to a lot of flight cancellation which the airline was said to have heaped the blame on the lack of passengers.
Note that Customer Relationship Management (CRM) are methods, strategies and tools used by firms to run, manage and analyze customer interactions.
Note that, Kenya Airways is known to have an unsatisfactory and lingering issues with customers relationship and because running their business with CRM, they were able to effectively handle it
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From what other study in the field of philosophy is the idea of consistency borrowed?
Select one:
a.
formal logic
b.
epistemology
c.
polemics
d.
aesthetics
Answers
Explanation:
There are 7 branches of Philosophy, namely, Metaphysics, Axiology, Logic, Aesthetics, Epistemology, Ethics and Political Philosophy. Philosophy is the study of the search for the truth and equally an effort to know the hidden realities truths about ourselves. As an academic discipline, Philosophy is hardly any different. Students who are in Philosophy programs are engaged in a pursuit of asking, answering, and resolving problems. In a sense, Philosophy is a type of Science, a reservoir of knowledge that can only be understood through rigorous investigation and study. Read this blog to know all about these branches of Philosophy, the nature of philosophy and more!
What are the 7 Branches of Philosophy?
Branches of Philosophy
To unburden a student from the discouraging task of going through fat books and dense literature on every concept of Philosophy, experts of this field came up with the idea of creating various branches of Philosophy. In this blog, we have collated a list of major and much-discussed branches of Philosophy, which have triggered some famous debates in this field.
The main branches of Philosophy are:
Axiology: Study of the nature of value and valuation
Metaphysics: Study of the fundamental nature of reality
Epistemology: Study of the nature, origin, and limits of human knowledge
Ethics Philosophy: Study of what is right and wrong in human behaviour
Aesthetics: Study of beauty and taste
Logic Philosophy: Study of the nature and types of logic
Political Philosophy: Study of government, addressing questions about the nature, scope, and legitimacy of public agents and institutions
Axiology
Also referred to as the theory of value, Axiology explores the nature of value and its metaphysical aspects. Value Theory is often interchangeably used as Axiology and this branch of Philosophy peruses upon the value of goodness. To put it simply, Axiology looks at the concept of value in terms of its philosophical terms and argues questions about nature and what actually is valued.
Metaphysics
Metaphysics has been a primary area of philosophical debate. It is mainly concerned with explaining the nature of being and the world. Traditionally, it has two different study areas, including Cosmology and Ontology. Cosmology is focused on understanding the origin, evolution, and the eventual fate of the universe, which include laws that keep it in perfect order. On the other hand, Ontology investigates various types of things that exist and their relationship with each other. Much before the discovery of modern science, all the science-related questions were asked as a part of Metaphysics.
Epistemology
Another major component of Philosophy is Epistemology. Going back into history, this term originated from the Greek word episteme which literally means knowledge, and the other half of the word ‘logy means ‘the study of’. Basically it is about the study of knowledge. What can we know? A fundamental question concerning Epistemology is, what is knowledge? It also asks questions like, can knowledge ever be absolute? Is there a limit for humans to know certain things? If we are living in a world of simulation, how can we know it? These are some of the essential questions Epistemology seeks answers for.
Ethics
Everyone in their day to day life tries to conduct themselves according to some established ethical norms. This philosophical concept has different applications in a person’s real life. For instance, there are certain organizations that have ethical committees which lay down rules of behaviour for its employees. Ethics is concerned with the definition of right and wrong. It elucidates schools of thought that instruct us how to act in a given situation, which has always been a matter of contention between philosophers. Every philosopher has defined it according to their own subjective understanding.
Give three reasons why small farmers have to arrange capital by borrowing.
Answers
Answer:
1) Their earnings are low as compared to bigger farm owners
2) They have small fields where any surplus made or profit earned goes towards the family and is usually not spent on investing into the farm
3) They have to buy pesticides and other fertilizers in order to raise their produce
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Answers
Shorten of time to reach your destination
Disadvantage:
Consumes an amount of fuel
Answer:
here
Explanation:
7 benefits of a car: What you should knowHealth and Emergencies. The safest way to ensure your health in the pandemic is by owning a private car. Independence and Freedom. Relying on hers for travel or using public vehicles could be detrimental. Privacy. Safety. Save Time. Take Pleasure Trips. Flexibility.DISADVANTAGES:Owning a car is expensive and requires additional costs to maintain and repair it.
Cars have increased the level of air and noise pollution in cities, causing more humans to suffer from respiratory, heart diseases, or cancers.
City traveller's have to spend longer hours on traffic jams.
Write the importance of professions and human resources related tourism.
Answers
Professions and human resources are fundamental for promoting tourism industry in a given region.
What does professions mean in Tourism?Tourism industry requires many professionals to give tourists suitable services and food resources.
For example, ecologists are aimed at protecting natural resources, which is fundamental to achieving sustainable tourism.
In conclusion, professions and human resources are fundamental for promoting tourism industry in a given region.
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What percentage of the value of a chocolate barstays in Côte d'Ivoire? What percentage goes to
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Answers
Answer:
depends what countries?
Explanation:
What effect does intellectual exodus have on the development of the country?
Answers
Answer:
It leads to a decline in the skilled personnel in a country hence decreased development rate.
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Answers
Prithvi Narayan Shah appointed the person favored by the people as Kaji because of his popularity was higher than any other official.
Prithvi Narayan Shah appointed Kalu Pandey for the Kaji position.King Prithivi Narayan Shah's preferred Kalu Pandey over Biraj Thapa Magar (Biraj Bakhate) for the positions of Kaji (equivalent to prime minister) as well as Pradhansenapati (Commander in Chief).He chose Kalu Pandey because he was more widely known among the Gorkhali people than Biraj Thapa Magar.Thus, from the above it is clear Why Prithvi Narayan Shah appointed Kalu Pandey as Kaji.
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Explain two contrasting religious beliefs about the nature of marriage.
In your answer you must refer to one or more religious traditions.
(4 marks)
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1-Cars are very useful for all kinds of commutes ranging from short distance commutes to long drives.
2- Cars are very comfortable to travel in
3-Cars can be used in all kinds of weather ranging from rain to snow.
Disadvantages
1- Solid Waste.
2-Land Space.
3-Energy Use.
The philosophical area which deals with the problem of being is called _
Answers
The philosophical area which deals with the problem of being is called Ontology.
What is Ontology?Ontology is an area of philosophy that studies being and its reality. This concept explain in details existence, including its cause.
In other words, it is what applies neutrally to everything that is real and what brought about those things.
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Which perspective best describes a secondary source
Answers
Answer:
a family member or friend
In this unit, you read a presidential speech, two poems, a memoir excerpt, short stories, and an editorial. In terms of what it shows about America, being American, and America's core values, with which work did you identify the most? That is, which work contained characters, events, or themes that you recognized and understood because of your own experiences as an American? Why do you think this work spoke to you as it did? With which work did you identify with the least? Why? Cite specific examples from the texts and your personal feelings or experiences to illustrate the points in your response.
Answers
The assignment wants to know your personal opinion about texts you have seen in the classroom. As it is not possible to determine your opinion, I will show you how to build it.
How to establish an opinion about the texts?Read all texts.Analyze how they approach America's values.Identify which of these values are most precious to you and are part of your vision of America.Identify the text that most closely matches and meets your requirements for what America should be like and what values should be fostered in Americans.Write your answer showing the text that best meets your requirements and certainties about America and the American people. In this answer, you should show which American values the text emphasizes and show how those values are being established by today's society. Remember to show how this builds the American people and how the text underscores this perception.
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In unit 5 you learned about the importance of using Close Reading strategies to improve your reading comprehension.
During our FFU session, you were to Stop, Jot, and Share.
For extra credit you can email me what you jotted down during the session.
If you were unable to attend, please see the recording: Class Recording
As always, please let me know if you have any questions.
Answers
The importance of using Close Reading strategies to improve your reading comprehension are:
Students have deeper understanding of a text.Student are able to analyze, interpret, and make inference via the use of a different kind of literacy skills.What is Close Reading about?In close reading, students are known to be closely read, and thus it help them to have better understanding the aim for reading that text.
Therefore, The importance of using Close Reading strategies to improve your reading comprehension are:
Students have deeper understanding of a text.Student are able to analyze, interpret, and make inference via the use of a different kind of literacy skills.Learn more about Close Reading from
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