# Economics Discussion

Sigchi4life
Category:
Economics
Price: \$20 USD

Question description

 Question: Use the total utility (TU) data for individual X to calculate the value (number of utils of satisfaction) that X will get from her/his 7th hour of sleep and 8th hour of sleep. The MU of X's 7th hour of sleep is ___ utils, and the MU of X's 8th hour of sleep is ___ utils. To answer, use whole numbers separated by a comma but no spaces. For example: 8,6
 Question 2 Fill in the Blank (1 points) Question: When X has only 12 hours per day to devote to sleep or leisure, the optimal hours per day of sleep = __ leisure = __ Again, answer with two whole numbers separated only by a comma. link
 Question 3 Fill in the Blank (1 points) Question: When X has only 12 hours per day to devote to sleep or leisure, the maximum TU achievable is _____ utils. [The answer is a whole number.]
 Question 4 Fill in the Blank (1 points) Question: Now, if X's other obligations decrease, leaving 14 hours per day to devote between sleep and leisure, the maximum utility can be attained when sleep and leisure are consumed in the following amounts: Hours of sleep per day = ____ Hours of leisure per day = ____ [Again, answer with whole numbers separated only with a comma]
 Question 5 Fill in the Blank (1 points) Question: When X has 14 hours to devote to sleep and leisure, the maximum TU achievable is _____ utils.
 Question 7 Fill in the Blank (1 points) Question: Under the conditions laid out in question #6, sales of lottery tickets can total as high as _____ thousand tickets per day. [Note the similarity to question #3]
 Question 8 Fill in the Blank (1 points) Question: If the advertising budget now increases to \$7000 with the two inputs to sales (radio and TV ads) remaining at \$500 each, the optimal quantities of them would now be.... ____ TV ads per day, and ____ Radio ads per day. [Note the similarity to questions 4 and 5]
 Question 11 Multiple Choice (1 points) Question: When the price of an input decreases, the real income effect predicts that.... more of all inputs (or normal goods) will be purchased fewer of all inputs (or normal goods) will be purchased more of the input that went down in price (but less of the other inputs) will be purchased less of the input that went down in price, but more of other inputs) will be purchased

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