Using calculus, show that not all goods can be inferior. (Hint: start with the identity that Y=P₁91 +P292+...+ PN9N-)dq₁dq2dan+...+PN DY+ P2 dydyNote thatdYdyP₁OA. AlthoughOB. BecauseO D. BecausedYO E. BecausedydY55 55 55= 1, at least onedY= 0, at least one must be positive, which means at least one good, good i, is not inferior.dYdYOC. Although = 1, at least one p, can be negative, which means at least one good, good i, is not inferior.da=1, at least onedydycan be negative, which means at least one good, good i, is not inferior.dYdqdydamust be positive, which means at least one good, good i, is not inferior.dy=1, at least one p, must be positive, which means at least one good, good i, is not inferior.dy

Inferior goods are those goods whose demand decreases with an increase in income.Therefore, dqi/dY…

Using calculus, show that not all goods can be inferior. (Hint: start with the identity that Y=P₁91 +P292+...+PN9N-) dq₁ da2 dan +...+PN dy = P1 dy +P2 dy Note that dY dy OA. Although OB. Because OC. Although OD. Because OE. Because ㅎㅎ ㅎ ㅎㅎ ㅎ ㅎㅎㅎ dy dY dY dY dy dy = 1, at least one can be negative, which means at least one good, good i, is not inferior. dy dq₁ dq dY = 0, at least one must be positive, which means at least one good, good i, is not inferior. =1, at least one p, can be negative, which means at least one good, good i, is not inferior. da dy = 1, at least one must be positive, which means at least one good, good i, is not inferior. =1, at least one p, must be positive, which means at least one good, good i, is not inferior.

Using calculus, show that not all goods can be inferior. (Hint: start with the identity that Y=P₁91 +P292+...+PN9N-) dq₁ da2 dan +...+PN dy = P1 dy +P2 dy Note that dY dy OA. Although OB. Because OC. Although OD. Because OE. Because ㅎㅎ ㅎ ㅎㅎ ㅎ ㅎㅎㅎ dy dY dY dY dy dy = 1, at least one can be negative, which means at least one good, good i, is not inferior. dy dq₁ dq dY = 0, at least one must be positive, which means at least one good, good i, is not inferior. =1, at least one p, can be negative, which means at least one good, good i, is not inferior. da dy = 1, at least one must be positive, which means at least one good, good i, is not inferior. =1, at least one p, must be positive, which means at least one good, good i, is not inferior.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 18RQ: What are four responses to the claim that people should not behave in the way described in this...

See similar textbooks

Similar questions

What are four responses to the claim that people should not behave in the way described in this chapter?
Rаnϲhеrs ϲаn rаisе еithеr ϲаttlе or shеер on thеir lаnd. What would cause ϲаusе thе suррly of shеер to inscrease? Typed answer please. I ll rate.
In 2010 the government’s main medical adviser drew up plans for a minimum price foralcohol intended to double the cost of some drinks.Under the proposal no drinks could be sold for less than 50 pence per unit of alcohol theycontain. This would mean most bottles of wine could not be sold for under £4.50. Theproposal is aimed at reducing alcohol abuse. A spokesman for an opposition party saidthat it was more important to deal with peoples’ attitudes and not just the price of alcohol.The Portman Group, set up by drinks manufacturers to promote sensible drinking, arguesthat it would damage the majority of drinkers who behave responsibly in terms of theirconsumption.The NHS bill for alcohol abuse is an estimated £2.7bn a year. Recent figures showhospital admissions linked to alcohol use have more than doubled in England since 1995.Alcohol was the main or secondary cause of 207,800 NHS admissions in 2006/7,compared to 93,500 in 1995/96. The number of alcohol-related deaths in England…
Q3: Leads ship Lhcaning faul direchina) paacess at givibg, puspose to cellective is a tfend y we concephite Looking et this defination can as intra adicisual an goup 0rghized pooces?
According to a US Census Bureau survey in 2014 Muple Choice O ● O 25.03 63 55 55.35 percent of unauthorized immigrant households used at least one form of welfare, as compared to percent of a migrant households households with a c
Using data from the last 10 semesters in ETC2410, we have observed that students who attended tutorials obtained a higher mark on the final exam, on average, relative to those who did not attend tutorials. From this observation alone we can say that Select one: tutorial attendance is a good predictor of performance on the final exam O a. O b. tutorials are an essential component of learning in ETC2410 O c. if we had forced students who attended all tutorials not to attend any tutorials, they would have obtained a lower mark on their final exams, on average O d. tutorials cause better performance on the final exam O e. if we had forced students who did not attend tutorials to attend all tutorials, they would have obtained a higher mark on their final exams, on average
Please help me ASAP. I will really appriciate it. Thank you
LIVING IN SPAINJackie moved to Spain to work for a public relations firm. She had health insurance from herprevious employer, but she was surprised to learn that her new employer in Spain did notoffer healthcare coverage. When she asked about this, she was told that more than 90percent of Spaniards use the public healthcare system, which was mostly free. However,her new employer did provide supplementary private health insurance that would allow herto receive quicker care from a private hospital if she desired.Jackie learned that she would be paying 4.7 percent of her salary and her employerwould pay 23.6 percent of her salary to the government for health insurance. She was given a Tarjeta Sanitaria Individual health card to prove that she had health insurance. With this,she could get free care at public hospitals and doctors’ offices. However, before seeing adoctor, she would need to register with a local primary care physician and decide whethershe would use public or private…
In 2010 the government’s main medical adviser drew up plans for a minimum price for alcohol intended to double the cost of some drinks.Under the proposal no drinks could be sold for less than 50 pence per unit of alcohol theycontain. This would mean most bottles of wine could not be sold for under £4.50. Theproposal is aimed at reducing alcohol abuse. A spokesman for an opposition party saidthat it was more important to deal with peoples’ attitudes and not just the price of alcohol.The Portman Group, set up by drinks manufacturers to promote sensible drinking, arguesthat it would damage the majority of drinkers who behave responsibly in terms of theirconsumption.The NHS bill for alcohol abuse is an estimated £2.7bn a year. Recent figures showhospital admissions linked to alcohol use have more than doubled in England since 1995.Alcohol was the main or secondary cause of 207,800 NHS admissions in 2006/7,compared to 93,500 in 1995/96. The number of alcohol-related deaths in England…
mics - ECN-101-D02 -... Bb https://stcc.blackboard.com/webapps/blackboard/exe... CENGAGE MINDTAP Adaptive Test Prep (Ch 01) Question 6: The line CD in the graph below shows that: C 40 30 7- ced 10 20 30 X value 40 O an increase in the values of X increases the values of Y. O X and Y are unrelated. O there is an inverse relationship between X and Y. a decrease in the values of X decreases the values of Y. 10 20 Y value
) Suppose that ina a there society Ceorge, are two people, Cos tas and only hite which share a fixed amount o f income t500 .The function Cos ta's usefulness in Uk=SO I, U=200xI,2 CWhere Ik and Ir is the income of Costas and George respectively) Suppose that the function of social well- being is W=UktOr. Determime the income distribution between Costo) and George who monimizes social prosperity. 1/2 while its function George is
In Autarka 2 amusement parks, Alfonso's wonderland and Bernice's rides there are 9600 people who like to visit an amusement park. Each of theseconsumers wants to visit one park once. The consumers' homes are evenly spaced acrossthe island, and they each suffer a disutility of $24 for each kilometre they travel to reachan amusement park. With their current technology, it costs an amusement park $12 for each customer theyhost. At present, the equilibrium price for an amusement park ticket is $36, and each firmhas a profit of $115,200. This market is best modelled as Hotelling competition. Fixed costs should be neglected. Treat this market as a one-shot game. Do not consider repetition or associated phenomena such as collusion or predatory pricing. Assuming Bernice's rides has a profit function of Nb(Pa,Pb) = 200(PaPb - Pb^2 + 36Pb -12Pa - 288), what is Bernice's rides best response function?