Question

In: Economics

You like cookies and you like chocolate. Draw a diagram to show that it is possible...

You like cookies and you like chocolate. Draw a diagram to show that it is possible for your optimal bundle to consist entirely of chocolate. Would it be correct for someone to conclude that, since you are only buying chocolate, you do not like cookies? Explain your answer carefully.

Solutions

Expert Solution

hence, choosing only chocolate as a optimal bundle does not necessarily mean that cookies are disliking.

Rahul Sunny answered 2 years ago
Next > < Previous

Related Solutions

[Chocolate Chip Cookies] Consider a sample of 40 Chips Ahoy chocolate chip cookies. The mean number...
[Chocolate Chip Cookies] Consider a sample of 40 Chips Ahoy chocolate chip cookies. The mean number of chips per cookie is 23.95 chips and the standard deviation of all Chips Ahoy regular cookies is known to be 2.55 chips. Use a (alpha)=0.01 to test the claim that the mean number of chips is greater than 23. a.) what parameter is this addressing? b.) identify the null and alternative hypotheses using math notation. c.) calculate the test statistic (critical value is...
The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed...
The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed with mean 1263 and a standard deviation of 118. ​(a) Determine the 29th percentile for the number of chocolate chips in a bag. ​(b) Determine the number of chocolate chips in a bag that make up the middle 97% of bags. ​(c) What is the interquartile range of the number of chocolate chips in a bag of chocolate chip​ cookies?
The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed...
The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed with mean 1261 and a standard deviation of 118. ​(a) Determine the 28th percentile for the number of chocolate chips in a bag. ​(b) Determine the number of chocolate chips in a bag that make up the middle 96​% of bags. ​(c) What is the interquartile range of the number of chocolate chips in a bag of chocolate chip​ cookies?
The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed...
The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed with mean 1261 and a standard deviation of 118. ​(a) Determine the 29th percentile for the number of chocolate chips in a bag. ​(b) Determine the number of chocolate chips in a bag that make up the middle 98​% of bags. ​(c) What is the interquartile range of the number of chocolate chips in a bag of chocolate chip​ cookies?
2. The number of chocolate chips in a bag of chocolate chip cookies is approximately normally...
2. The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed with a mean of 1262 chips and a standard deviation of 118 chips Part (a): About how many percent of the cookie bags are in between 1200 and 1300 chips. Part (b): Determine the 30th percentile for the number of chocolate chips in a bag. Part (c): Determine the minimum number of chocolate chips in a bag that make up the middle 95...
The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed...
The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed with mean 1263 and a standard deviation of 118. ​(a) Determine the 2929th percentile for the number of chocolate chips in a bag. ​(b) Determine the number of chocolate chips in a bag that make up the middle 97​% of bags. ​(c) What is the interquartile range of the number of chocolate chips in a bag of chocolate chip​ cookies?
The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed...
The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed with mean of 1261 and a standard deviation of 117 ​(a) Determine the 26th percentile for the number of chocolate chips in a bag. ​(b) Determine the number of chocolate chips in a bag that make up the middle 96% ​(c) What is the interquartile range of the number of chocolate chips in a bag of chocolate chip​ cookies?
3, The number of chocolate chips in a bag of chocolate chip cookies is approximately normally...
3, The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed with a mean of 1263 chips and a standard deviation of 118 chips. ​ ​(a) The 27th percentile for the number of chocolate chips in a bag of chocolate chip cookies is_____ chocolate chips. ​(Round to the nearest whole number as​ needed.) ​(b) The number of chocolate chips in a bag that make up the middle 95​% of bags is ___ to ___...
The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed...
The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed with a mean of 1261 chips and a standard deviation of 118 chips. ​(a) Determine the 27th percentile for the number of chocolate chips in a bag. ​(b) Determine the number of chocolate chips in a bag that make up the middle 97​% of bags. ​(c) What is the interquartile range of the number of chocolate chips in a bag of chocolate chip​ cookies?
the number of chocolate chips in an 18 oz bag of chocolate chip cookies is approximately...
the number of chocolate chips in an 18 oz bag of chocolate chip cookies is approximately normally distributed with 1270 in the standard deviation is 130 chips what is the probability that a randomly-selected bag contains no more than 1200 chips what is the probability that a randomly-selected bag of 30 bags has a random mean that's no more than 1200 chips what number of chocolate chips in a bag will correspond to the 15th percentile
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT