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1) For the following utility functions, draw a graph of two indifference curves with xon the horizontal axis and y on the vertical axis, corresponding to ulx, y) = 2 and Ux, y) = 4

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1) For the following utility functions, draw a graph of two indifference curves with xon the horizontal axis and y on the vertical axis, corresponding to ulx, y) = 2 and Ux, y) = 4. Label all relevant points. (a) (5 points) u(x, y) = min{2z, y} (b) (5 points) u(x, y) = 2x + 3y

2)Describe the difference between Zaibatsu and Chaebols. Give some examples

3)Remaining Time: 07 minutes, 22 seconds Less than half of the time remains Question Completion Status: 20 ? 15 D A 10 5 20 40 60 80 Roller Riades o te ASUS VivoBook
o 20 40 60 80 Roller Blades On the production possibilities frontier shown, the opportunity cost to the economy of getting 10 additional roller blades by moving from point A to point B is 15 bikes. 5 bikes. Ob. 10 bikes. It is impossible to know the opportunity cost without knowing the cost of the resources used to produce the addition Od roller blades. Ques A Moving to the next question prevents changes to this answer. Zalo o te ASUS VivoBook

4)Duracell Ltd claim that the life of their batteries in motorised soft toys is approximately normally distributed with a mean of 92 hours and a standard deviation of 13.4 hours. The best 77% of batteries would last beyond how many hours? Answer correct to 2 decimal places.