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A Micro-Economics Question. What is the best, most consistently accurate methodology for solving the question, below....

A Micro-Economics Question.

What is the best, most consistently accurate methodology for solving the question, below. Please show ALL the steps involved, even the "easy" ones. Thanks!

Four weirdos go shopping for frogs at a frog auction. Mack Jack Sam and Dave. At the auction is a Blue Frog, Green Frog, Spotted Frog and a Flaming Frog. The Frogs come from Tunis, Borneo, Saint Petersburg, and Kansas City in no order. From the hints below, answer the questions that come after.

1. The frog from Kansas City and the Green Frog, one sold for 90 bucks, the other was won by Jack

2. The frog that sold for 75 dollars was either the frog from Kansas City or the Spotted Frog

3. Sam's purchase and the frog that sold for 90$ one was from Kansas City and the other was the Spotted Frog

4. The Frog from Kansas City cost 30 bucks more that the Flaming Frog

5. The frog that sold for 45$ was from Tunis

6. The Flaming Frog cost less than the frog from Borneo

7. Macks purchase was not from St. Petersburg

Questions:

Who purchased the frog from Kansas City?

What was the price of the Green Frog?

Sam's frog was from what place?

Solutions

Expert Solution

4 frogs, lets code them as follows

Blue (FB), Green (FG), Spotted (FS), Flaming (FF)

4 weirdos, lets code them too

Mack (WM), Jack (WJ), Sam (WS), Dave (WD)

4 cities, lets code them as follows

Kansas (CK), Tunis (CT), Borneo (CB), Saint Petersburg (CS)

All above codes are unique. Now lets process given information one by one.

1. CK or FG , one sold for 90 other won by WJ

2. CK or FS, sold for 75

3. WS or 90, one was from CK and other was FS

4. CK = 30 + FF

5. CT = 45

6. FF < CB

7. WM != CS

a) The prices of the frogs are 90, 75, 45 as given. Point 5 states that CT is 45. So, CK could be one of 75 or 90.

b) from point 2, and 3 it can be said that CK or FS are sold for 75 or 90. And CK and FS are not same.

If CK = 75, the point 3 contradicts.It is associating CK with 90 or WS. But as per below table it contradicts. This table is created using point 1 and 2.

City Weirdo Frog Price
CK WJ 75
FG 90

Step 1: So, lets fix CK = 90

City Weirdo Frog Price
CK 90

Step 2: 4 different prices will be 90. 75, 60, 45

City Weirdo Frog Price
CK 90
75
60
45

Step 3: Using point 2

City Weirdo Frog Price
CK 90
FS 75
60
45

Step 4: Using point 4

City Weirdo Frog Price
CK 90
FS 75
FF 60
45

Step 5: Using point 5

City Weirdo Frog Price
CK 90
FS 75
FF 60
CT 45

Step 6: Using point 6

City Weirdo Frog Price
CK 90
CB FS 75
FF 60
CT 45

Step 7 : Using point 1

City Weirdo Frog Price
CK 90
CB FS 75
CS FF 60
CT WJ FG 45

Step 8 : Using point 3

City Weirdo Frog Price
CK 90
CB WS FS 75
CS FF 60
CT WJ FG 45

Step 9 : Using point 7

City Weirdo Frog Price
CK WM 90
CB WS FS 75
CS FF 60
CT WJ FG 45

Step 10: Filling missing entries

City Weirdo Frog Price
CK WM FB 90
CB WS FS 75
CS WD FF 60
CT WJ FG 45

Q1: WM purchased CK. MACK

Q2: FG price is 45

Q3: WS frog was from CB. Berneo


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