Subject: MicroeconomicsSheldon need 2 hours to cook a meal and 1 hour to finish a basket of laundry.Leonard need 1.5 hours to cook a meal and 1.5 hours to finish a basket of laundry.1.3. Suppose each person has 12 hours for the two tasks in a week, and suppose Sheldon and Leonardeach spend 6 hours on cooking and 6 hours on laundry. If they can trade meals at a price of 0.75(baskets for each meal), are they willing to trade one meal (for 0.75 baskets of laundry)? Hint: you needto specify how they would adjust their time between the two tasks if they are going to trade one meal,and compare to the case without trade. Assume a person is willing to trade only when he would end upwith no fewer meals and no fewer baskets. (7 points)1.4. Consider the setup in 1.3. Consider an offer from Leonard to Sheldon: cook x meals for me eachweek, and I’ll do y baskets of laundry for you, where x and y do not need to be integers. Can you findsuch an offer and a production plan such that the offer benefits both? Hint: For a production plan, youneed to specify how each person divides his 12 hours between the two tasks. The offer benefits Sheldon(or Leonard) when it results in no fewer meals and no fewer baskets for him. (7 points 0

Betty runs a burger joint for tourists, kilometres from the nearest town. She has a monopoly and faces the demand schedule as shown in Table 1 for burgers. Assume Betty’s average cost and marginal cost are constant at $2 a meal. Table 1 – Betty’s Burgers - Demand Schedule Quantity demanded (burgers per week): 160, 140, 120, 100, 80, 60, 40, 20, 0 Price = AR ($): 1, 2, 3, 4, 5, 6, 7, 8, 9 TR ($): MR: MC: TC: Profit: a) Fill in the values in the blank columns for Table 1

User In any given week, Anne receives satisfaction only from the consumption of goods and from the consumption of leisure L, which is measured in hours, obviously, Anne consumes many different types of goods, but for simplicity was aggregate the dollar value of all their goods that she consumes during the week and call it C. Assume that if Anne chooses to work, the hourly wage rate is w=6 and she has to sleep 8 hours per day, Potentially ,if she wants, she can work up to 5 days a week, Call L Anne’s weekly leisure time, where L is all the hours during the 5-day workweek during which Anne is neither working nor sleeping. Anne's utility is given by u(C,L) =𝐶^a𝐿^(1−𝑎), where a=0.6. (a)(1 point) What is Anne's utility maximizing choice of C? (b)(1.5) By how many hours does her optimal choice of L increase if the government gives her a weekly unconditional subsidy of 20?

Consider the budget set for a consumer with income of 100 facing the following prices. The price for the first five units of good 1 is $10 (per unit) If the consumer buys more than five units, the price is $5 for any subsequent unit purchased. If the consumer buys 2 units of good 2 at a price of $10 a unit and is on her budget constraint, how many units of good 1 does she buy?Group of answer choices7891011

Samantha is maximizing total utility while consuming food and clothing. Her marginal utility from food is 50, and her marginal utility from clothing is 25. If clothing is priced at $10 per unit, the price of food per unit must beGroup of answer choices$2.$2.50.$20.$5.

BasketCo. manufactures baskets. Its costs, $C , are given by the rule C = 4n + 2400 , and its revenue,$R , is given by the rule R = 6n , where n is the number of baskets produced. Sketch the graphs of C andR on the same set of axes and determine the number of baskets produced if the costs equal the revenue.