For the Module Assignment, please answer the following questions:
1. If a consumer’s income increases and if all goods are normal goods, explain how the quantity bought of each good changes.
2. Describe the following concepts: Utility, Total Utility, Marginal Utility and Paradox of value.
3. Jerry has $12 a week to spend on yogurt and magazines. The price of yogurt is $2, and the price of a magazine is $4:
a) List the combinations of yogurt and magazines that Jerry can afford. Draw a graph of Jerry’s budget line with the quantity of magazines plotted on the x-axis.b) Describe how Jerry’s consumption possibilities change if, other things remaining the same, (i) the price of a magazine falls and (ii) Jerry’s income increases.
4. Draw figures that show your indifference curves for the following pairs of goods:
■ Right gloves and left gloves■ Coca-Cola and Pepsi■ Tylenol and acetaminophen (the generic formof Tylenol)■ Desktop computers and laptop computers■ Strawberries and ice cream
For each pair, are the goods perfect substitutes, perfect complements, substitutes, complements, or unrelated?
Specifications
Your assignment should be submitted in a Word document and follow proper APA formatting and a minimum of two pages in length. Proper APA formatting includes a title page, in-text citations, and a formal reference page. You can view more information and examples of sample papers in APA formatting at https://owl.english.purdue.edu/owl/resource/560/01/. (Links to an external site.)
GET SOLUTION FOR THIS ASSIGNMENT, Get Impressive Scores in Your Class
TO BE RE-WRITTEN FROM THE SCRATCH
GET SOLUTION FOR THIS ASSIGNMENT
TO BE RE-WRITTEN FROM THE SCRATCH
- Original and non-plagiarized custom papers- Our writers develop their writing from scratch unless you request them to rewrite, edit or proofread your paper.
- Timely Delivery– primewritersbay.com believes in beating the deadlines that our customers have imposed because we understand how important it is.
- Customer satisfaction- Customer satisfaction. We have an outstanding customer care team that is always ready and willing to listen to you, collect your instructions and make sure that your custom writing needs are satisfied
- Confidential- It’s secure to place an order at primewritersbay.com We won’t reveal your private information to anyone else.
- Writing services provided by experts- Looking for expert essay writers, thesis and dissertation writers, personal statement writers, or writers to provide any other kind of custom writing service?
- Enjoy Please Note-You have come to the most reliable academic writing site that will sort all assignments that that you could be having. We write essays, research papers, term papers, research proposals If a consumer’s income increases and if all goods are normal goods, explain how the quantity bought of each good changes
Get Professionally Written Papers From The Writing Experts
