Question
In: Economics
Sofia only drinks a cup of coffee (C) with 2 teaspoons of sugar (S). She spends...
Sofia only drinks a cup of coffee (C) with 2 teaspoons of sugar (S). She spends 15 dollars per week on both goods. Suppose the price of a cup of coffee is $ 1 and the price of one spoon of sugar is 25 cents.
a) Write down Sofia’s utility function and draw her indifference map. What is the marginal rate of substitution between coffee and sugar?
b) Write down her budget constraint. What is the slope of the budget line?
c) Find the utility maximizing bundle for Sofia. Show her equilibrium on the graph.
Solutions
Rahul Sunny answered 2 years agoRelated Solutions
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All these items are acidic! How will the respiratory and renal
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A female just had a cup of coffee with cream and sugar. You are following the...
A female just had a cup of coffee with cream and sugar. You are
following the journey of the glucose molecule from ingestion thru
cellular respiration which creates H2O and CO2. You will follow the
CO2 molecule until exhalation and the H2O to excretion. List the
following pathways.
A.
List
the physical pathway from the oral cavity to the point of
absorption in the gastrointestinal tract.
B.
List the physical pathway from the point of absorption of the
glucose...
How would you separate a cup of coffee with cream and sugar (a mixture) into its...
How would you separate a cup of coffee with cream and sugar (a
mixture) into its components using either distillation or paper
chromatography? Explain your answer.
how would you separate a cup of coffee with cream and sugar (a mixture) into its...
how would you separate a cup of coffee with cream and sugar (a
mixture) into its components using paper chromatography?
Suppose there are two countries – Home and Foreign – that produce only coffee and sugar....
Suppose there are two countries – Home and Foreign – that
produce only coffee and sugar. It takes home workers three hours to
produce a bag of coffee; and four hours to produce a bag of sugar.
Foreign country is less productive – their workers spend seven
hours to make a bag of coffee and a half of a day (twelve hours!)
to eventually produce a bag of sugar.
1. Which country has an absolute advantage in coffee? Sugar?
Explain...
At a local convenience store, you purchase a cup of coffee, but, at 98.4°C, it is...
At a local convenience store, you purchase a cup of coffee, but,
at 98.4°C, it is too hot to drink. You add 34.3 g of ice that is
−2.2°C to the 248 mL of coffee. What is the final temperature of
the coffee? (Assume the heat capacity and density of the coffee are
the same as water and the coffee cup is well insulated.)
At a local convenience store, you purchase a cup of coffee, but, at 98.4°C, it is...
At a local convenience store, you purchase a cup of
coffee, but, at 98.4°C, it is too hot to drink.
You add 28.5 g of ice that is −2.2°C to the 248 mL
of coffee. What is the final temperature of the coffee? (Assume the
heat capacity and density of the coffee are the same as water and
the coffee cup is well insulated.)
Scenario A: If the price of coffee went from $2/cup to $4/cup, and you reduced your...
Scenario A: If the price of coffee went from $2/cup to $4/cup,
and you reduced your consumption from 100 cups/month to 90
cups/month, what is the elasticity of demand? Scenario
B: If the price of coffee went from $2/cup to $4/cup,
and you reduced your consumption from 100 cups/month to 40
cups/month, what is the elasticity of demand? Which scenario shows
elastic demand and which shows inelastic demand?
Using JAVA The Jumpin' Jive coffee shop charges $2 for a cup of coffee and offers...
Using JAVA
The
Jumpin'
Jive
coffee shop charges $2 for a cup of coffee and offers the add-ins
shown in Table 6-2.
Design the logic for an application that allows a user to enter
ordered add-ins continuously until a
sentinel value is entered. After each item, display its price or
the message Sorry, we do not carry
//that as output. After
all items have been entered, display the total price for the
order.
whipper cream 0.89
cinnamon 0.25
chocolate sauce...
Scenario: In the early 1990s, Stella Liebeck, 79 ordered a cup of coffee at McDonald's. She...
Scenario: In the early 1990s, Stella Liebeck, 79
ordered a cup of coffee at McDonald's. She accidentally spilled the
coffee on her lap and suffered serious burns. She sued McDonald's
for negligence, among other things.
Liebeck v. McDonald's Restaurants, P.T.S., Inc., No. D-202 CV 93
02419, 1995 WL 360309 (Bernalillo County, N.M. Dist. Cut. August
18, 1994).
Support the plaintiff, Liebeck and highlight the strengths and
weaknesses of the plaintiff to a basic negligence action only.
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