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Question 7 0

Economics

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Question 7 0.25 pts Cookie Monster always prepares his cookies with 3 portions of chocolate (C) and 2 portions of mixed flour (F). Consider whether the following statements about Cookie Monster's preferences are True or False: Cookie Monster's preferences can be represented by U = min{2F,30} [Select] Cookie Monster's preferences can be represented by U-2F+3C (Select] Cookie Monster's preferences can be represented by U = min{3F,2C) (Select] Cookie Monster's preferences can be represented by U - min{F. (2/3)*C) Select) Cookie Monster's preferences can be represented by U = 3C + 2F Select] Cookie Monster's preferences can be represented by U - C+(2/3)*F Select]
Question 8 0.25 pts 25 A given consumer has preferences such that one of the indifference curves is described by y = 2 and passes through the bundle (y,x) = (y1,2). If you know that these preferences are described by a Cobb-Douglas utility function, what is the MRS at point (25, 4)? Enter your answer to two decimal points.
Question 9 0.25 pts From Eggs Benedict to liver and grits, breakfast in the United states is many things to many people. But there are a few common touchstones, an ABC News poll finds, including cold cereal and cold pizza. For those of you who do not know what grits are, grits is a food made by boiling ground maize (corn) and usually served with other flavorings as a breakfast dish, usually savory. According to ABC News cold cereal tops the list of most common breakfast foods, cited by 31% of those who eat breakfast. About two in 10 Americans usually eat eggs (with or without bacon or ham) and just over one in 10 usually have a bagel, toast, muffins or pastry. Consider the following indifference curve maps for cold cereal and grits: Cereal cereal (a) 1 (6) gereal cereal Telang (4) ? arito Guit Grits Crite Using the same set of graphs, consider the previous set of indifference curve maps for cold cereal and grits. Assume that John still hates grits and Mary loves cold cereals. However, suppose that John's tastes are not convex, Which of the following is correct?
News cold cereal tops the list of most common breakfast foods, cited by 31% of those who eat breakfast. About two in 10 Americans usually eat eggs (with or without bacon or ham) and just over one in 10 usually have a bagel, toast, muffins or pastry. Consider the following indifference curve maps for cold cereal and grits: Cereal Cereal (a) Gereal certal (chy (4) ? arits Carit arits 3 Grid Using the same set of graphs, consider the previous set of indifference curve maps for cold cereal and grits. Assume that John still hates grits and Mary loves cold cereals. However, suppose that John's tastes are not convex. Which of the following is correct? Graph (b) represents Mary's tastes O Graph b represents John's tastes Graph a presents Mary's tastes Graph a represents John's tastes