Maurice Tutor

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About Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 2 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 29 Sep 2017 My Price 5.00

Bridget and Erin

5.     Suppose that Bridget and Erin spend their incomes on two goods, food (F) and clothing (C). Bridget’s prefer- ences are represented by the utility function U(F,C) = 10FC, while Erin’s preferences are represented by the utility function U(F,C) = .20F2C2.

a.    With food on the  horizontal  axis  and clothing on the vertical axis, identify on a graph the set of points that give Bridget the same level of utility as the bundle (10, 5). Do the same for Erin on a sepa- rate graph.

b.     On the same two graphs, identify the set of bundles that give Bridget and Erin the same level of utility as the bundle (15, 8).

c.     Do you think Bridget and Erin have the same pref- erences or different preferences? Explain.

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Sep 2017 12:09 AM My Price 5.00

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