1 If the utility function of a consumer is given by U(X,Y)= VX+2VY

Economics Aug 22, 2020

1 If the utility function of a consumer is given by U(X,Y)= VX+2VY. Which one of the following consumption bundles is on the same indifference curve with A(9.1)? elect one: a. (3,2) b. (1.9) c. (4,4) d. (2,8) e. (1.4)
2

In approximately 200 words, please summarise the notion of the Long Tail, as proposed by Chris Anderson. Please be sure to include at least one example to demonstrate your understanding of the material.