Where Are You Going, Where have you been? Essay -- essays research pap

Connie’s Decision      Nobody truly recognizes what's on the horizon. We as a whole live step by step thinking about what God’s will is for our lives. However we continue and settle on choices that could conceivably shape what our lives end up being. In Joyce Carol Oates’s â€Å"Where are you going, Where have you been?,† we meet Connie, a multi year old wonderful young lady. Connie like most youngsters is a young man insane and now and again defiant. She and a few lady friends would get together and go to a neighborhood drive-in café where more seasoned children would hang out. (153) One night at this drive-in a kid with shaggy dark hair, in a convertible grabbed Connie’s attention. (154) Connie had never observed him. He offered the guileful expression of â€Å"Gonna get you, baby,† and she simply overlooked him and strolled on. (154) Little did Connie realize he was talking reality. In a brief timeframe Connie was going to settle on the greatest choice of her life, truly.      Connie was at home alone one day sitting in her room tuning in to music. Her mom, father and sister were out to a grill. A new vehicle pulled up in the garage and Connie from the outset was stressed over what she looked like. This was the most insignificant part of her difficulties. When Connie got to the front entryway she was confronted with two men. The driver whom we come to know as Arnold Friend and the traveler whose name was Ellie Oscar. Arnold falls off from the start as sort of odd yet decent. He asks Connie, â€Å"You wanta desire a ride?† (...

Performance of Telecom Service Provider Free Essays

string(172) client driven arrangement incorporates esteem included administrations, quality client care, simple access call focuses, advanced system security and adaptable duty rates (http://www. ASA University Review, Vol. 5 No. 2, Julyâ€December, 2011 Performance of Grameenphone and Robi in Telecom. We will compose a custom paper test on Execution of Telecom Service Provider or on the other hand any comparative subject just for you Request Now Part of Bangladesh: A Comparative Study S. M. Akterujjaman* Md. Rouf Biswas* Md. Nur-E-Alam Siddique** Abstract The most recent decade has brought the primary rush of the really versatile age which is worked around cell phones, short informing administration (SMS), and compact electronic partners. The portable correspondences industry has been one of the most thriving areas inside the ICT business and, when all is said in done, inside the economy. Grameenphone and Robi are the greatest cell phone administrators in our nation and their commitment is extraordinary to our economy. The prime goal of the examination is to think about the presentation among Grameenphone and Robi in the media communications segment of Bangladesh. This examination depends based on both essential and auxiliary information. The essential information were gathered from relative cell phone companies’ clients from Khulna city. All out 200 clients (100 clients of Grameenphone and 100 clients of Robi) were reviewed through the critical inspecting technique with survey from March to June 2011. The survey comprised of 25 inquiries. After assortment of essential information, theories were defined and matched examples T-test was utilized to test the speculations with 0. 05 degree of factual noteworthiness. The factual PC bundle SPSS adaptation 16. 0 was utilized to dissect the information. The proposals were given dependent on the discoveries and investigation. Watchwords: Performance, Telecommunications part, Grameenphone, Robi, Customer fulfillment, Network, Hypotheses. Presentation The individuals of Bangladesh are currently longing for a computerized Bangladesh. Quicker advancement of media communications organize combined with improved nature of administration in accordance with the national improvement is an unquestionable requirement for the satisfaction of the vision and desire of computerized Bangladesh and furthermore to take her to a place of respect in the network of countries in the 21st century. Cell phone administrators have been assuming a significant job in such manner (Rahman, 2010). The most recent decade has brought the primary rush of the really versatile age which is worked around cell phones, short informing administration (SMS), and compact electronic associates. However, presently there is solid proof to recommend that there is a considerably greater wave to come driven by the expanding overall innovative pattern towards versatility and innovation combination. This is apparent through the plans and vital bearings of a large number of the significant players in this field (Mahmud and Chowdhury, 2010). * ** Senior Lecturers, Department of Business Administration, Northern University Bangladesh Lecturer, Faculty of Business, ASA University Bangladesh 160 ASA University Review, Vol. 5 No. 2, Julyâ€December, 2011 The media transmission benefits in Bangladesh were given until 1989 by the state-possessed syndication supplier Bangladesh Telegraph and Telephone Board (BTTB), broadcast communications administrations. In 1989, the Government of Bangladesh opened the telecom segment by granting licenses to two administrators; one to work fixed phones in rustic regions (Bangladesh Rural Telecom Authority); and the other to work cell phone and pager (Bangladesh Telecom LtdBTL) administrations. In 1992, Pacific Bangladesh Telecom Limited (PBTL) purchased the versatile piece of the BTL (Khan 2003). The media communications showcase in Bangladesh, especially the cell phone part comprises of six cell phone administrators. These are Grameenphone Limited (GP), Orascom Telecom Bangladesh Limited (Banglalink), Robi Axiata Limited, Airtel Bangladesh Limited, Pacific Bangladesh Telecom Limited (Citycell), and Teletalk Bangladesh Limited (http://www. btrc. gov. bd). Since its beginning Grameenphone has constructed the biggest cell organize in the nation with more than 13,000 base stations in excess of 7000 areas. By and by, almost 98 percent of the country’s populace is inside the inclusion zone of the Grameenphone organize. Grameenphone has consistently been a pioneer in presenting new items and administrations in the nearby market. GP was the principal organization to present GSM innovation in Bangladesh when it propelled its administrations in March 1997. Grameenphone was additionally the primary administrator to present the prepaid help in September 1999. It set up the initial 24-hour Call Center, presented esteem included administrations, for example, VMS, SMS, fax and information transmission administrations, worldwide meandering help, WAP, SMS-based pushpull administrations, EDGE, individual ring back tone and numerous different items and administrations. The whole Grameenphone arrange is additionally EDGE/GPRS empowered, permitting access to fast Internet and information administrations from anyplace inside the inclusion region. There are presently about 2. 6 million EDGE/GPRS clients in the Grameenphone organize. Today, Grameenphone is the main broadcast communications specialist co-op in Bangladesh with in excess of 33 million supporters as of May 2011 (http://www. grameenphone. com). The investors of Grameenphone contribute their novel, top to bottom involvement with the two broadcast communications and improvement. It is a joint endeavor venture between Telenor (55. %), the biggest media communications specialist co-op in Norway with cell phone tasks in 12 different nations, and Grameen Telecom Corporation (34. 2% ), a non-benefit sister worry of the globally acclaimed miniaturized scale credit pioneer Grameen Bank. The other 10% offers have a place with general retail and institutional speculators (http://www. grameenphone. com) . Robi Axiata Limited is a joint endeavor organization between Axiata Group Berhad, Malaysia and NTT DOCOMO INC, Japan. It was previously known as Telecom Malaysia International (Bangladesh) which initiated tasks in Bangladesh in 1997 with the brand name AKTEL. On 28th March 2010, the administration name was rebranded as ‘Robi’ and the organization came to be known as Robi Axiata Limited. Robi is genuinely a people-arranged brand of Bangladesh. Robi, the people’s champion, is there for the individuals of Bangladesh, where they need and the manner in which they need. Having the nearby convention at its center, Robi walks ahead with development and inventiveness. To guarantee driving edge innovation, Robi draws from the worldwide ability of Axiata and NTT DOCOMO INC. It bolsters 2G voice, CAMEL Phase II III and GPRS/EDGE administration with fast web network. Its GSM administration depends on a strong system engineering and bleeding edge innovation, for example, Intelligent Network (IN), which gives genuine feelings of serenity The Performance of Grameenphone and Robi 161 arrangements as far as voice clearness, broad across the country organize inclusion and various worldwide accomplices for global wandering. It has the largest International Roaming inclusion in Bangladesh interfacing 600 administrators across in excess of 200 nations. Its client driven arrangement incorporates esteem included administrations, quality client care, simple access call focuses, computerized organize security and adaptable duty rates (http://www. You read Execution of Telecom Service Provider in classification Papers obi. com. bd). Robi Axiata Limited is a Joint Venture organization between Axiata Group Berhad (70%) and NTT DOCOMO INC. (30%) (http://www. robi. com. bd). Targets of the Study The prime goal of the examination is to think about the presentation among Grameenphone and Robi in the broadcast communications area of Bangladesh. The more explicit destinations are as per the following: 1. To decide the variables that impact customers to pick a cell phone administrator. 2. To discover various kinds of offices that the two organizations are offering to get a handle on new clients and to hold the current one. . To think about the particular territory where endorsers are fulfilled or disappointed. 4. To discover the degree of consumer loyalty towards the administrations gave by Grameenphone and Robi. 5. To give a few suggestions to expand the exhibition of Grameenphone and Robi. Procedure of the Study The philosophy received for the present investigation is introduced underneath in a successive way: Sources of Data: This examination depends on both essential and optional information. Essential information were gathered through close to home meeting with an organized poll and direct perceptions. Optional information were gathered from the distributed authority insights, report archives, laws, law, books, articles, periodicals of various local and worldwide offices, yearly reports of concerned PDA administrators, service of posts broadcast communications, sites and so on. Poll Design: The essential information were gathered from relative cell phone companies’ clients from Khulna city. Absolute 200 clients (100 clients of Robi and 100 clients of Grameenphone) were reviewed through the comfort testing technique with poll from March to June 2011. The poll comprised of 25 inquiries. The survey was pre-tried (guided) on a comfort test of 30 respondents of both mobile phone organizations from Khulna city. The point was to watch that the issues were appropriate and the inquiries were clear, justifiable, and conceivable. The design of certain inquiries was altered and further upgrades were done because of the pilot study. Information Analysis Methods: A five-point Likert type scale proclamations were utilized to quantify the factors where 1 represents emphatically differ and 5 represents unequivocally concurred impact on the announcements (Luthans, 2002). After assortment of essential information, theories were defined and combined examples t-test was utilized to test the speculations with 0. 05 degree of factual centrality. The factual PC bundle SPSS

Social Media Can Help You To Build A Killer Personal Brand

Social Media Can Help You To Build A Killer Personal Brand Make Money Online Queries? Struggling To Get Traffic To Your Blog? Sign Up On (HBB) Forum Now!Social Media Can Help You To Build A Killer Personal BrandUpdated On 02/12/2017Author : Umesh SinghTopic : Social MediaShort URL : https://hbb.me/2j9mTS1 CONNECT WITH HBB ON SOCIAL MEDIA Follow @HellBoundBlogDont you want people to look for you on the search engine?I guess you want that, right?Appearing on the search engine feels like a celebrity. But, how would do that when you are not a celebrity or a famous person? Don’t worry Social Media is here to make you famous! Many people are using social media for their Business growth and Marketing. It is not only for business. But also, can help you to develop your personal branding and establish you as an authority. Lets see how building a personal brand is easy with social media. Here we go:What is Personal Branding?Personal branding is an art of representing yourself and your skills to the world. It’s your repo. We are living in an age where competition is tough. You need to stand out from the crowd by being your best self. Take glance how search results looks like, when I search for Neil Patel.These are the following benefits of personal branding:Confidence boost up You develop confidence as you build your personal brand.Get more business opportunity from better clients in less time.Become an authority or expert in your area.Mixing personality in your business and brand.Generate attention for your product and services.SOCIAL MEDIA BRANDING ARE INTER-RELATED. LEARN HOW IT WORKS:Learn About Social Media And How It Impacts Your Branding StrategiesUsing Social Media To Build A Killer Personal BrandSocial media is the easy and fast way to build a solid personal brand. The following are the five tips that you can use to developing a personal brand.1. Specify your GoalWhat do you wish when people search for your name? What do you want they get?These are the following objectives that you might want.LinkedIn would be b est for you to show your skills and educational qualification.If you want people to read your thoughts and content, then Twitter is best for you.But if you have a product or artwork that you want yo sell then Pinterest is best for you.Now you must have been got it, what your goal is for personal branding.Here is some more intention that you might have.Being An Entrepreneur If you want to be an entrepreneur, personal branding can be crucial. When people search you online, what they know about you make people decide if they should trust you or not.Stand Out From Your Competitors With a unique persona and solid branding you can beat your competitors. Being different from your competitors is essential to your success.More Sale It would not be hard for you to sell your products to your customers if you have a strong branding.2. Determine, At Least, Three Area Of SkillsHow do you want to see people know about you? Who are the people you wish to engage? The internet is jam-packed with t he skilled and successful entrepreneurs. So, it is important for you to be different from others.You might want more than just a blogger. Your desires could be infinite like to be an entrepreneur or teaching marketing skills. But, I would suggest dont pick more than three. If you choose more areas chances you might not focus on all at the same time and fail to achieve that you want. Your intelligence describes who are you and what are you capable of doing.You can use those skills to mention in your social media profile descriptions as primary keywords. Make sure you choose the area that you have interest.3. Use The Same Name, Profile And Images For Social Media NetworksWhen you send to request a proposal to your potential customers first thing they do search for you on the Google. And try to find more information about you on the social media. It makes easy for them to find your social media profile if your profiles match up. Being on every social media with the same name and profil e help others to get you and remember your image in their mind.READPC or Smartphone - Which Is Better When Using Social Media?Here are few things you need to do to keep your profile same every social media platform.1) Park Your Name On Social Networks:It is a must that your name should be same on every network. Knowem, you can use this tool to find availability of your username on 25 major social media platforms. If you dont find your name on those networks, then you should get a different name. Once you get your desired name on all available networks, you can use it or keep it for future.2) Use The Same Name For Channels:First name and last name that people look. Make sure you dont use your nickname, pet name, etc. It does not make a good impact on your clients.3) Use Same Images:You should use the same picture for your all social channels. It will help people to remember you when they search for you.4) Bio/Description:Bio is the second thing which impresses people when they visit your social media profile. It should be short and sweet. People are busy, and they dont have time to read your 300 characters biography. If it will be long, they could bore and will leave your profile. Your bio should not be more than 200 characters.4. Post Quality Content On Your Social Media ProfileHow will your audience will find you and your product? Establishing yourself easy to find for people is the first step close to the brand. Next step is to share your knowledge and show your speciality to others.Being an active on social media increase chances for you to get more followers. A study has found that those who post or tweet more get the most followers. If you are busy and can not post regularly, then you can use social media tools. There are several social media tools out there which that you can use. Buffer’s social media management tool or dlvr.it could be a right choice.Using social media automation tools can save your time. It is up to you how many social media channel s you can handle. For me, I can handle 3-4 channels like Twitter, Facebook, Pinterest and Linkedin.5. Join A community, Chat Or GroupFind people who have the same interest as you and share the same kind of content on social media. How would you find those people who are talking about you or your brand?You can use tools like social mention to find those people. You can join an active community where your potential clients discuss their problem. Show your expertise and provide the best solution to their problem. It will establish you as a trustworthy resource for getting knowledge.These are the following things which you can do:Send welcome message when someone follow you.Follow influencers in your niche.Search mentors. Do as they tell.Don’t hesitate to ask for advice.Tell people that you like to hear their stories. They will be happy to share it with you.If you don’t find any active group, then make yourself one. And invite the people who active on social media.Our End NoteAs a s ocial media marketer, we invest our time to share content and comment on others post. Wouldnt it be nice if you promote yourself as a brand? When we talk about personal branding through social media. Creating profile on all networks is not enough.SPENDING MUCH TIME ON SOCIAL MEDIA? DO THAT FOR YOUR CAREER THEN:Social Media Is A Wonderful Tool To Build Your Career BusinessYou have to take part in all the communities which you have joined. Participate on the regular basis at the Linkedin group, Google+ communities and Twitter conversions. Being an active in social media helps your personal branding.Have you ever tried any of these tactics before for your personal branding? I would like to know your valuable thoughts and suggestions in the comment section.

Vampires More Than A Modern Fantasy - 1538 Words

Emily Fischer 5/26/16 AP World History Period 2 Vampires: More Than a Modern Fantasy When you think of vampires, do you think of Twilight, Buffy the Vampire Slayer, or Vampire Diaries? Or, do you think of ancient vampiric legends such as Lamastu, empusai, and even Vlad the Impaler? What if both modern vampire culture and the origins of vampirism were connected, not only by topic, but by relevance? Vampiric myths allow us to understand the history and those involved, as well as to relate to the present and view how current culture evolved into what it is. Although something usually thought as irrelevant and unusual, vampiric legends explain the continuity of humans to use scapegoats to explain the unknown, whether due to a lack of†¦show more content†¦She spread terror through villages, but was actually the cause of lack of medical knowledge. When miscarriages or Sudden Infant Death Syndrome (SIDS) occurred, ancient peoples did not understand, and therefore drew their own conclusions, conclusions that would help satisfy not only their lack of technology b ut also their misunderstanding of the world. Similarly, in ancient Greece, a myth of a demoness named Lamia was widespread. This legend originated from Greek gods and goddesses, for it was said that Lamia was originally a mistress of Zeus. Motivated by jealousy, Hera drove the poor lover insane, causing her to eat all of her 5 children. Once awoken from her daze, Lamia soon realized what she had done and transformed into a half-snake monster, cursed to eat human children and fetuses due to the jealousy she felt for their mothers. Additionally, a related myth sprouted among ancient Hebrew texts about a demoness named Lilith. According to the texts, Lilith, not Eve, was the wife of Adam, but left the Garden of Eden due to her disagreeance of God’s will for woman to be inferior to man. God sent angels after her, but she refused to enter Eden again, so the angels said they would kill 100 of Lilith’s children every single day until she came back to Eden. Lilith therefore sw ore to forever kidnap and devour human children, turning into a hideous monster. All three of these legends described the

African Americ Understanding Prejudice, Slavery And The...

Discussion 2 African American ï‚ § Understanding Prejudice, Slavery and the U.S. Presidents Unfortunately, Presidents were not the only Government officials who possessed views on rights and slavery. Congress officials along with the Supreme court also rejected blacks no rights which the white man was bound to respect. Furthermore, George Washington was one of the first to own slaves, along with the highest amount owned in the nation, with an alarming 317. I only guessed about 10 slaves and I was way off. However, even after slavery had ended it was noted that many Presidents thereafter would still exhibit radical prejudice. Further, Thomas Jefferson owned the second largest amount of slaves with a total of 237, he was also the first president to have had a slave child born in the White House. Unfortunately, with Slaves also came punishment, more common of these were whipping or beating and chaining or handcuffing. Despite the cruel means of punishment all three of the U.S. presidents with the highest amount of slaves owned also are on U.S. currency. In addition to, replac ing the face on the U.S. $20 bill, from Andrew Jackson with Harriet Tubman, this is something I did not know. ï‚ § Slavery by Another Name Vagrancy was a law set in place for any individual who could not prove that he or she was currently employed, in addition to harsh punishments for paying off hefty fine included working in the mines. Green Cottenham was convicted guilty and sentence to 30 days of hard

Essay on Napelon as Portrayed by Pushkin and Lermontov

â€Å"We all now pose as Napoleons-- Millions of two-legged creatures For us are the instrument of one.† --Eugene Onegin, by Pushkin Napoleon in Russian Thought Despite Russia’s own history with Napoleon Bonaparte in the Russian invasion of 1812, Russians came to view Napoleon with a strange sort of admiration and reverence. In much the same way as Western Europe at the time, Russians saw Napoleon as a symbol: an extraordinary modern man who overstepped boundaries and moral law to change history on his own terms. As a historical example or type, Napoleon surfaces in the writing of Gogol, Lermontov, Tolstoy, Tutchev and Pushkin. In his verse novel Eugene Onegin (1825-1832), Pushkin cites the influence of Napoleon in Russian thought: â€Å"We†¦show more content†¦ÃËœÃ' Ã'‡Ð µÃ · Ð ²Ã »Ã °Ã' Ã'‚Ð ¸Ã'‚Ð µÃ »Ã'Å' Ð ¾Ã' Ã'Æ'Ð ¶Ã ´Ã µÃ ½Ã ½Ã'‹Ð ¹, ÐÅ"Ð ¾Ã ³Ã'Æ'Ã'‡Ð ¸Ã ¹ Ð ±Ã °Ã »Ã ¾Ã ²Ã µÃ ½Ã'Å' Ð ¿Ã ¾Ã ±Ã µÃ ´, И Ð ´Ã »Ã'  Ð ¸Ã ·Ã ³Ã ½Ã °Ã ½Ã ½Ã ¸Ã ºÃ ° Ð ²Ã' Ã µÃ »Ã µÃ ½Ã ½Ã ¾Ã ¹ Ð £Ã ¶Ã µ Ð ¿Ã ¾Ã'‚Ð ¾Ã ¼Ã' Ã'‚Ð ²Ã ¾ Ð ½Ã °Ã' Ã'‚Ð °Ã µÃ'‚. Napoleon’s name is always associated with military campaigns, bloody battles and thousands of perished soldiers. But Pushkin does not reproach him for this, but restrains himself before the supreme will of a Providence who pacified her mutinous hero. О Ã'‚Ã'‹, Ã'‡Ã'Å'Ð µÃ ¹ Ð ¿Ã °Ã ¼Ã' Ã'‚Ã'Å'Ã'Ž Ð ºÃ'€Ð ¾Ã ²Ã °Ã ²Ã ¾Ã ¹ ÐÅ"Ð ¸Ã'€ Ð ´Ã ¾Ã »Ã ³Ã ¾, Ð ´Ã ¾Ã »Ã ³Ã ¾ Ð ±Ã'Æ'Ð ´Ã µÃ'‚ Ð ¿Ã ¾Ã »Ã ½, ПÃ'€Ð ¸Ã ¾Ã' Ã µÃ ½Ã µÃ ½ Ã'‚Ð ²Ã ¾Ã µÃ'Ž Ã' Ã »Ã °Ã ²Ã ¾Ã ¹, ПÐ ¾Ã'‡Ð ¸Ã ¹ Ã' Ã'€Ð µÃ ´Ã ¸ Ð ¿Ã'Æ'Ã' Ã'‚Ã'‹Ð ½Ã ½Ã'‹Ã'… Ð ²Ã ¾Ã »Ã ½... â€Å"O hero, with whose bloodied story Long, long the earth will still resound, Sleep in the shadow of your story, The desert ocean all around† To Pushkin, Napoleon’s illustrious personality appears as a natural necessity of time; Napoleon’s enterprise is of a such enormous proportions, that Pushkin praises him even while discussing Napoleon’s attitude to Russia and does not belittle his glory and greatness: Ð Ã °Ã ´Ã ¼Ã µÃ ½Ã ½Ã'‹Ð ¹! Ð ºÃ'‚Ð ¾ Ã'‚Ð µÃ ±Ã'  Ð ¿Ã ¾Ã ´Ã ²Ã ¸Ã ³Ã ½Ã'Æ'Ð »? КÃ'‚Ð ¾ Ð ¾Ã ±Ã'Æ'Ã' Ã » Ã'‚Ð ²Ã ¾Ã ¹ Ð ´Ã ¸Ã ²Ã ½Ã'‹Ð ¹ Ã'Æ'Ð ¼? КÐ °Ã º Ã' Ã µÃ'€Ð ´Ã'†Ð ° Ã'€Ã'Æ'Ã' Ã' Ã ºÃ ¸Ã'… Ð ½Ã µ Ð ¿Ã ¾Ã' Ã'‚Ð ¸Ã ³Ã ½Ã'Æ'Ð » Ð ¢Ã'‹ Ã'  Ð ²Ã'‹Ã' Ã ¾Ã'‚Ã'‹ Ð ¾Ã'‚Ð ²Ã °Ã ¶Ã ½Ã'‹Ã'… Ð ´Ã'Æ'Ð ¼? Ð’Ð µÃ »Ã ¸Ã ºÃ ¾Ã ´Ã'Æ'Ã'ˆÐ ½Ã ¾Ã ³Ã ¾ Ð ¿Ã ¾Ã ¶Ã °Ã'€Ð ° Ð Ã µ Ð ¿Ã'€Ð µÃ ´Ã'Æ'Ð ·Ã ½Ã °Ã ², Ã'Æ'Ð ¶ Ã'‚Ã'‹ Ð ¼Ã µÃ'‡Ã'‚Ð °Ã », Ð §Ã'‚Ð ¾ Ð ¼Ã ¸Ã'€Ð ° Ð ²Ã ½Ã ¾Ã ²Ã'Å' Ð ¼Ã'‹ Ð ¶Ã ´Ã µÃ ¼, Ð ºÃ °Ã º Ð ´Ã °Ã'€Ð °; Ð Ã ¾ Ð ¿Ã ¾Ã ·Ã ´Ã ½Ã ¾ Ã'€Ã'Æ'Ã' Ã' Ã ºÃ ¸Ã'… Ã'€Ð °Ã ·Ã ³Ã °Ã ´Ã °Ã »... â€Å"Vainglorious man ! Where were you faring, Who blinded that astounding mind? How came it in designs of daring The Russian’s heart was not divined? At fiery sacrifice not guessing, You idly fancied, tempting fate, We would seek peace and count blessing; You came to fathom us too late†¦Ã¢â‚¬  To Pushkin, Napoleon is mythical hero; the last of

The ANZUS Alliance free essay sample

An examination of Australias involvement in the Vietnam war. This essay attempts to investigate Australias involvement in the Vietnam War, her foreign affairs at the time and the type of treaties she signed between states with special focus on the ANZUS treaty with New Zealand and the United States. The author examines how this effected Australias involvement in the war and the type of ties she gained. The ANZUS Treaty established a trilateral framework between the United States, Zealand defense system, it is also an expression of unity with Australia, the United States and the Western World.? Although collective security arrangements remain as valid today as they were in 1950, the ANZUS Treaty did not survive the Cold War. The defeat of Japan left six-allied nations Australia, Britain, France, the Netherlands, New Zealand, and the United States-in uncontested control of almost all of Oceania. When in May 1964 Sukarno called upon 21 million volunteers to crush Malaysia, and his government told Australia not to interfere in what was basically an Asian problem, warning that if Australia did become involved then the responsibility would be Australias alone. We will write a custom essay sample on The ANZUS Alliance or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page

Varian Solution free essay sample

Chapter 1 NAME The Market Introduction. The problems in this chapter examine some variations on the apartment market described in the text. In most of the problems we work with the true demand curve constructed from the reservation prices of the consumers rather than the â€Å"smoothed† demand curve that we used in the text. Remember that the reservation price of a consumer is that price where he is just indi? erent between renting or not renting the apartment. At any price below the reservation price the consumer will demand one apartment, at any price above the reservation price the consumer will demand zero apartments, and exactly at the reservation price the consumer will be indi? erent between having zero or one apartment. You should also observe that when demand curves have the â€Å"staircase† shape used here, there will typically be a range of prices where supply equals demand. Thus we will ask for the the highest and lowest price in the range. We will write a custom essay sample on Varian Solution or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 1. 1 (3) Suppose that we have 8 people who want to rent an apartment. Their reservation prices are given below. To keep the numbers small, think of these numbers as being daily rent payments. ) Person Price = A = 40 B 25 C D 30 35 E 10 F 18 G 15 H 5 (a) Plot the market demand curve in the following graph. (Hint: When the market price is equal to some consumer i’s reservation price, there will be two di? erent quantities of apartments demanded, since consumer i will be indi? erent between having or not having an apartment. ) 2 THE MARKET (Ch. 1) Price 60 50 40 30 20 10 0 1 2 3 4 5 6 7 8 Apartments (b) Suppose the supply of apartments is ? xed at 5 units. In this case there is a whole range of prices that will be equilibrium prices. What is the highest price that would make the demand for apartments equal to 5 units? $18. $15. A, B, C, D. $10 to $15. (c) What is the lowest price that would make the market demand equal to 5 units? (d) With a supply of 4 apartments, which of the people A–H end up getting apartments? (e) What if the supply of apartments increases to 6 units. What is the range of equilibrium prices? 1. 2 (3) Suppose that there are originally 5 units in the market and that 1 of them is turned into a condominium. (a) Suppose that person A decides to buy the condominium. What will be the highest price at which the demand for apartments will equal the supply of apartments? What will be the lowest price? Enter your answers in column A, in the table. Then calculate the equilibrium prices of apartments if B, C, . . . , decide to buy the condominium. NAME 3 Person High price Low price A B C D E F G H 18 15 18 15 18 15 18 15 25 18 25 15 25 18 25 18 (b) Suppose that there were two people at each reservation price and 10 apartments. What is the highest price at which demand equals supply? 18. Suppose that one of the apartments was turned into a condo- minium. Is that price still an equilibrium price? Yes. 1. 3 (2) Suppose now that a monopolist owns all the apartments and that he is trying to determine which price and quantity maximize his revenues. (a) Fill in the box with the maximum price and revenue that the monopolist can make if he rents 1, 2, . . . , 8 apartments. (Assume that he must charge one price for all apartments. ) Number Price Revenue 1 2 3 4 5 6 7 8 40 40 35 70 30 90 25 100 18 90 15 90 10 70 5 40 (b) Which of the people A–F would get apartments? A, B, C, D. $18. (c) If the monopolist were required by law to rent exactly 5 apartments, what price would he charge to maximize his revenue? d) Who would get apartments? A, B, C, D, F. (e) If this landlord could charge each individual a di? erent price, and he knew the reservation prices of all the individuals, what is the maximum revenue he could make if he rented all 5 apartments? $148. (f ) If 5 apartments were rented, which individuals would get the apartments? A, B, C, D, F. 1. 4 (2) Suppose that there are 5 a partments to be rented and that the city rent-control board sets a maximum rent of $9. Further suppose that people A, B, C, D, and E manage to get an apartment, while F, G, and H are frozen out. 4 THE MARKET Ch. 1) (a) If subletting is legal—or, at least, practiced—who will sublet to whom in equilibrium? (Assume that people who sublet can evade the city rentcontrol restrictions. ) E, who is willing to pay only F, $10 for an apartment would sublet to who is willing to pay $18. (b) What will be the maximum amount that can be charged for the sublet payment? $18. A, (c) If you have rent control with unlimited subletting allowed, which of the consumers described above will end up in the 5 apartments? B, C, D, F. (d) How does this compare to the market outcome? It’s the same. 1. (2) In the text we argued that a tax on landlords would not get passed along to the renters. What would happen if instead the tax was imposed on renters? (a) To answer this question, consider the group of people in Problem 1. 1. What is the maximum that they would be willing to pay to the landlord if they each had to pay a $5 tax on apartments to the city? Fill in the box below with these reservation prices. Person Reservation Price A B C D E F G H 35 20 25 30 5 13 10 0 (b) Using this information determine the maximum equilibrium price if there are 5 apartments to be rented. $13. c) Of course, the total price a renter pays consists of his or her rent plus the tax. This amount is $18. (d) How does this compare to what happens if the tax is levied on the landlords? It’s the same. Chapter 2 NAME Budget Constraint Introduction. These workouts are designed to build your skills in describing economic situations with graphs and algebra. Budget sets are a good place to start, because both the algebra and the graphing are very easy. Where there are just two goods, a consumer who consumes x1 units of good 1 and x2 units of good 2 is said to consume the consumption bundle, ( x1 , x2 ). Any onsumption bundle can be represented by a point on a two-dimensional graph with quantities of good 1 on the horizontal axis and quantities of good 2 on the vertical axis. If the prices are p1 for good 1 and p2 for good 2, and if the consumer has income m, then she can a? ord any consumption bundle, (x1 , x2 ), such that p1 x1 +p2 x2 ? m. On a graph, the budget line is just the line segment with equation p1 x1 + p2 x2 = m and with x1 and x2 both nonnegative. The budget line is the boundary of the budget set. All of the points that the consumer can a? ord lie on one side of the line and all of the points that the consumer cannot a? rd lie on the other. If you know prices and income, you can construct a consumer’s budget line by ? nding two commodity bundles that she can â€Å"just a? ord† and drawing the straight line that runs through both points. Example: Myrtle has 50 dollars to spend. She consumes only apples and bananas. Apples cost 2 dollars each and bananas cost 1 dollar each. You are to graph her budget line, where apples are measured on the horizontal axis and bananas on the vertical axis. Notice that if she spends all of her income on apples, she can a? ord 25 apples and no bananas. Therefore her budget line goes through the point (25, 0) on the horizontal axis. If she spends all of her income on bananas, she can a? ord 50 bananas and no apples. Therfore her budget line also passes throught the point (0, 50) on the vertical axis. Mark these two points on your graph. Then draw a straight line between them. This is Myrtle’s budget line. What if you are not told prices or income, but you know two commodity bundles that the consumer can just a? ord? Then, if there are just two commodities, you know that a unique line can be drawn through two points, so you have enough information to draw the budget line. Example: Laurel consumes only ale and bread. If she spends all of her income, she can just a? ord 20 bottles of ale and 5 loaves of bread. Another commodity bundle that she can a? ord if she spends her entire income is 10 bottles of ale and 10 loaves of bread. If the price of ale is 1 dollar per bottle, how much money does she have to spend? You could solve this problem graphically. Measure ale on the horizontal axis and bread on the vertical axis. Plot the two points, (20, 5) and (10, 10), that you know to be on the budget line. Draw the straight line between these points and extend the line to the horizontal axis. This point denotes the amount of 6 BUDGET CONSTRAINT (Ch. 2) ale Laurel can a? ord if she spends all of her money on ale. Since ale costs 1 dollar a bottle, her income in dollars is equal to the largest number of bottles she can a? ord. Alternatively, you can reason as follows. Since the bundles (20, 5) and (10, 10) cost the same, it must be that giving up 10 bottles of ale makes her able to a? ord an extra 5 loaves of bread. So bread costs twice as much as ale. The price of ale is 1 dollar, so the price of bread is 2 dollars. The bundle (20, 5) costs as much as her income. Therefore her income must be 20 ? 1 + 5 ? 2 = 30. When you have completed this workout, we hope that you will be able to do the following: †¢ Write an equation for the budget line and draw the budget set on a graph when you are given prices and income or when you are given two points on the budget line. †¢ Graph the e? ects of changes in prices and income on budget sets. †¢ Understand the concept of numeraire and know what happens to the budget set when income and all prices are multiplied by the same positive amount. †¢ Know what the budget set looks like if one or more of the prices is negative. See that the idea of a â€Å"budget set† can be applied to constrained choices where there are other constraints on what you can have, in addition to a constraint on money expenditure. NAME 7 2. 1 (0) You have an income of $40 to spend on two commodities. Commodity 1 costs $10 per unit, and commodity 2 costs $5 per unit. (a) Write down your budget equation. 101 + 52 = 40. (b) If you spent all your income on commodity 1, how much could you buy? 4. 8. Use blue ink to draw your budget line in the graph (c) If you spent all of your income on commodity 2, how much could you buy? elow. x2 8 6 4 2 ,,,,,, ,,,,,, Line Blue ,,,,,, ,,,,,, ,,,,,, Red Line ,,,,,, ,,,,,, ,,,,,,Black Shading ,,,,,, ,,,,,, ,,,,,, ,,,,,,,,,,,,, ,,,,,, ,,,,,,,,,,,,, Black Line ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, Blue ,,,,,,,,,,,,, ,,,,,,,,,,,,, Shading ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, 2 4 6 8 x1 0 (d) Suppose that the price of commodity 1 falls to $5 while everything else stays the same. Write down your new budget equation. 51 +52 = 40. On the graph above, use red ink to draw your new budget line. e) Suppose that the amount you are allowed to spend falls to $30, while the prices of both commodities remain at $5. Write down your budget equation. line. 51 + 52 = 30. Use black ink to draw this budget (f) On your diagram, u se blue ink to shade in the area representing commodity bundles that you can a? ord with the budget in Part (e) but could not a? ord to buy with the budget in Part (a). Use black ink or pencil to shade in the area representing commodity bundles that you could a? ord with the budget in Part (a) but cannot a? ord with the budget in Part (e). 2. 2 (0) On the graph below, draw a budget line for each case. BUDGET CONSTRAINT (Ch. 2) (a) p1 = 1, p2 = 1, m = 15. (Use blue ink. ) (b) p1 = 1, p2 = 2, m = 20. (Use red ink. ) (c) p1 = 0, p2 = 1, m = 10. (Use black ink. ) (d) p1 = p2 , m = 15p1 . (Use pencil or black ink. Hint: How much of good 1 could you a? ord if you spend your entire budget on good 1? ) x2 20 15 Blue Line Black Line 10 Red Line 5 0 5 10 15 20 x1 2. 3 (0) Your budget is such that if you spend your entire income, you can a? ord either 4 units of good x and 6 units of good y or 12 units of x and 2 units of y. (a) Mark these two consumption bundles and draw the budget line in th e graph below. 16 12 8 4 0 4 8 12 16 x NAME 9 (b) What is the ratio of the price of x to the price of y? 1/2. (c) If you spent all of your income on x, how much x could you buy? 16. (d) If you spent all of your income on y, how much y could you buy? 8. (e) Write a budget equation that gives you this budget line, where the price of x is 1. x + 2y = 16. 3x + 6y = 48. (f ) Write another budget equation that gives you the same budget line, but where the price of x is 3. 2. 4 (1) Murphy was consuming 100 units of X and 50 units of Y . The price of X rose from 2 to 3. The price of Y remained at 4. a) How much would Murphy’s income have to rise so that he can still exactly a? ord 100 units of X and 50 units of Y ? $100. 2. 5 (1) If Amy spent her entire allowance, she could a? ord 8 candy bars and 8 comic books a week. She could also just a? ord 10 candy bars and 4 comic books a week. The price of a candy bar is 50 cents. Draw her budget line in the box below. What is Amy’s we ekly allowance? $6. Comic books 32 24 16 8 0 8 12 16 24 32 Candy bars 10 BUDGET CONSTRAINT (Ch. 2) 2. 6 (0) In a small country near the Baltic Sea, there are only three commodities: potatoes, meatballs, and jam. Prices have been remarkably stable for the last 50 years or so. Potatoes cost 2 crowns per sack, meatballs cost 4 crowns per crock, and jam costs 6 crowns per jar. (a) Write down a budget equation for a citizen named Gunnar who has an income of 360 crowns per year. Let P stand for the number of sacks of potatoes, M for the number of crocks of meatballs, and J for the number of jars of jam consumed by Gunnar in a year. 2P + 4M + 6J = 360. (b) The citizens of this country are in general very clever people, but they are not good at multiplying by 2. This made shopping for potatoes excruciatingly di? ult for many citizens. Therefore it was decided to introduce a new unit of currency, such that potatoes would be the numeraire. A sack of potatoes costs one unit of the new currency while the same relative prices apply as in the past. In terms of the new currency, what is the price of meatballs? 2 crowns. 3 (c) In terms of the new currency, what is the price of jam? crowns. (d) What would Gu nnar’s income in the new currency have to be for him to be exactly able to a? ord the same commodity bundles that he could a? ord before the change? 180 crowns. P + 2M + 3J = (e) Write down Gunnar’s new budget equation. 80. No. Is Gunnar’s budget set any di? erent than it was before the change? 2. 7 (0) Edmund Stench consumes two commodities, namely garbage and punk rock video cassettes. He doesn’t actually eat the former but keeps it in his backyard where it is eaten by billy goats and assorted vermin. The reason that he accepts the garbage is that people pay him $2 per sack for taking it. Edmund can accept as much garbage as he wishes at that price. He has no other source of income. Video cassettes cost him $6 each. (a) If Edmund accepts zero sacks of garbage, how many video cassettes can he buy? 0. NAME 11 b) If he accepts 15 sacks of garbage, how many video cassettes can he buy? 5. 6C ? 2G = 0. (c) Write down an equation for his budget line. (d) Draw Edmund’s budget line and shade in his budget set. Garbage 20 15 10 5 ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, ,,,,,,,,,Budget Line ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, Set Budget ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, ,,,,,,,,, 5 10 15 20 Video cassettes 0 2. 8 (0) If you think Edmund is odd, consider his brother Emmett. Emmett consumes speeches by politicians and university administrators. He is paid $1 per hour for listening to politicians and $2 per hour for listening to university administrators. (Emmett is in great demand to help ? ll empty chairs at public lectures because of his distinguished appearance and his ability to refrain from making rude noises. ) Emmett consumes one good for which he must pay. We have agreed not to disclose what that good is, but we can tell you that it costs $15 per unit and we shall call it Good X. In addition to what he is paid for consuming speeches, Emmett receives a pension of $50 per week. Administrator speeches 100 75 50 25 0 25 50 5 100 Politician speeches 12 BUDGET CONSTRAINT (Ch. 2) (a) Write down a budget equation stating those combinations of the three commodities, Good X, hours of speeches by politicians (P ), and hours of speeches by university administrators (A) that Emmett could a? ord to consume per week. 15X ? 1P ? 2A = 50. (b) On the graph above, draw a two-dimensional diagram showing the locus of consumptions of the two kinds of speeches that would be possible for Emmett if he consumed 10 units of Good X per week. 2. 9 (0) Jonathan Livingstone Yuppie is a prosperous lawyer. He has, in his own words, â€Å"outgrown those con? ing two-commodity limits. † Jonathan consumes three goods, unblended Scotch whiskey, designer tennis shoes, and meals in French gourmet restaurants. The price of Jonathan’s brand of whiskey is $20 per bottle, the price of designer tennis shoes is $80 per pair, and the price of gourmet restaurant meals is $50 per meal. After he has paid his taxes and alimony, Jonathan has $400 a week to spend. (a) Write down a budget equation for Jonathan, where W stands for the number of bottles of whiskey, T stands for the number of pairs of tennis shoes, and M for the number of gourmet restaurant meals that he consumes. 0W + 80T + 50M = 400. (b) Draw a three-dimensional diagram to show his budget set. Label the intersections of the budget set with each axis. M 8 5 20 T W (c ) Suppose that he determines that he will buy one pair of designer tennis shoes per week. What equation must be satis? ed by the combinations of restaurant meals and whiskey that he could a? ord? 20W +50M = 320. 2. 10 (0) Martha is preparing for exams in economics and sociology. She has time to read 40 pages of economics and 30 pages of sociology. In the same amount of time she could also read 30 pages of economics and 60 pages of sociology. NAME 13 (a) Assuming that the number of pages per hour that she can read of either subject does not depend on how she allocates her time, how many pages of sociology could she read if she decided to spend all of her time on sociology and none on economics? 150 pages. (Hint: You have two points on her budget line, so you should be able to determine the entire line. ) (b) How many pages of economics could she read if she decided to spend all of her time reading economics? 50 pages. 2. 11 (1) Harry Hype has $5,000 to spend on advertising a new kind of dehydrated sushi. Market research shows that the people most likely to buy this new product are recent recipients of M. B. A. degrees and lawyers who own hot tubs. Harry is considering advertising in two publications, a boring business magazine and a trendy consumer publication for people who wish they lived in California. Fact 1: Ads in the boring business magazine cost $500 each and ads in the consumer magazine cost $250 each. Fact 2: Each ad in the business magazine will be read by 1,000 recent M. B. A. ’s and 300 lawyers with hot tubs. Fact 3: Each ad in the consumer publication will be read by 300 recent M. B. A. ’s and 250 lawyers who own hot tubs. Fact 4: Nobody reads more than one ad, and nobody who reads one magazine reads the other. (a) If Harry spends his entire advertising budget on the business publication, his ad will be read by 10,000 recent M. B. A. ’s and by 3,000 lawyers with hot tubs. (b) If he spends his entire advertising budget on the consumer publication, his ad will be read by lawyers with hot tubs. 6,000 recent M. B. A. ’s and by 5,000 (c) Suppose he spent half of his advertising budget on each publication. His ad would be read by lawyers with hot tubs. 8,000 recent M. B. A. ’s and by 4,000 (d) Draw a â€Å"budget line† showing the combinations of number of readings by recent M. B. A. ’s and by lawyers with hot tubs that he can obtain if he spends his entire advertising budget. Does this line extend all the way to the axes? No. Sketch, shade in, and label the budget set, which includes all the combinations of MBA’s and lawyers he can reach if he spends no more than his budget. 14 BUDGET CONSTRAINT (Ch. 2) (e) Let M stand for the number of instances of an ad being read by an M. B. A. and L stand for the number of instances of an ad being read by a lawyer. This budget line is a line segment that lies on the line with equation M + 2L = 16. With a ? xed advertising budget, how many readings by M. B. A. ’s must he sacri? ce to get an additional reading by a lawyer with a hot tub? MBAs x 1000 16 2. 12 10 8 6 4 a ,,,,,,,, ,,,,,,,, ,,,,,,,, c ,,,,,,,, ,,,,,,,, ,,,,,,,, b ,,,,,,,, ,,,,,,,, Budget ,,,,,,,, ,,,,,,,, Set ,,,,,,,, ,,,,,,,, ,,,,,,,, ,,,,,,,, ,,,,,,,, ,,,,,,,, 3 5 2 4 8 Budget line 0 12 16 Lawyers x 1000 2. 12 (0) On the planet Mungo, they have two kinds of money, blue money and red money. Every commodity has two prices—a red-money price and a blue-money price. Every Mungoan has two incomes—a red income and a blue income. In order to buy an object, a Mungoan has to pay that object’s redmoney price in red money and its blue-money price in blue money. (The shops simply have two cash registers, and you have to pay at both registers to buy an object. ) It is forbidden to trade one kind of money for the other, and this prohibition is strictly enforced by Mungo’s ruthless and e? cient monetary police. †¢ There are just two consumer goods on Mungo, ambrosia and bubble gum. All Mungoans prefer more of each good to less. †¢ The blue prices are 1 bcu (bcu stands for blue currency unit) per unit of ambrosia and 1 bcu per unit of bubble gum. †¢ The red prices are 2 rcus (red currency units) per unit of ambrosia and 6 rcus per unit of bubble gum. (a) On the graph below, draw the red budget (with red ink) and the blue budget (with blue ink) for a Mungoan named Harold whose blue income is 10 and whose red income is 30. Shade in the â€Å"budget set† containing all of the commodity bundles that Harold can a? ord, given NAME 15 its? wo budget constraints. Remember, Harold has to have enough blue money and enough red money to pay both the blue-money cost and the red-money cost of a bundle of goods. Gum 20 15 10 Blue Lines 5 ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, 5 10 Red Line 15 20 Ambrosia 0 (b) Another Mungoan, Gladys, faces the same prices that Harold faces and has the same red income as Harold, but Gladys has a blue income of 20. Explain how it is that Gladys will not spend its entire blue income no matter what its tastes may be. Hint: Draw Gladys’s budget lines. ) The blue budget line lies strictly outside the red budget line, so to satisfy both budgets, one must be strictly inside the red budget line. (c) A group of radical economic reformers on Mungo believe that the currency rules are unfair. â€Å"Why should everyone have to pay two prices for everything? † they ask. They propose the following scheme. Mungo will continue to have two currencies, every good will have a blue price and a red price, and every Mungoan will have a blue income and a red income. But nobody has to pay both prices. Instead, everyone on Mungo must declare itself to be either a Blue-Money Purchaser (a â€Å"Blue†) or a RedMoney Purchaser (a â€Å"Red†) before it buys anything at all. Blues must make all of their purchases in blue money at the blue prices, spending only their blue incomes. Reds must make all of their purchases in red money, spending only their red incomes. Suppose that Harold has the same income after this reform, and that prices do not change. Before declaring which kind of purchaser it will be, We refer to all Mungoans by the gender-neutral pronoun, â€Å"it. Although Mungo has two sexes, neither of them is remotely like either of ours. ? 16 BUDGET CONSTRAINT (Ch. 2) Harold contemplates the set of commodity bundles that it could a? ord by making one declaration or the other. Let us call a commodity bundle â€Å"attainable† if Harold can a? ord it by declaring itself to be a â€Å"Blue† and buying the bundle with blue money or if Harold can a? ord the bundle by declaring itself to be a â€Å"Red† and buying it with red money. On the diagram below, shade in all of the attainable bundles. Gum 20 15 10 5 ,,,,,,,,,,,, Blue Line ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,, Line Red ,,,,,,,,,,,,, ,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,, ,,,,,,,,,,,,, ,,,,,,,,, 5 10 15 20 Ambrosia 0 2. 13 (0) Are Mungoan budgets really so fanciful? Can you think of situations on earth where people must simultaneously satisfy more than one budget constraint? Is money the only scarce resource that people use up when consuming? Consumption of many commodities takes time as well as money. People have to simultaneously satisfy a time budget and a money budget. Other examplespeople may have a calorie budget or a cholesterol budget or an alcohol-intake budget. Chapter 3 NAME Preferences Introduction. In the previous section you learned how to use graphs to show the set of commodity bundles that a consumer can a? ord. In this section, you learn to put information about the consumer’s preferences on the same kind of graph. Most of the problems ask you to draw indi? erence curves. Sometimes we give you a formula for the indi? erence curve. Then all you have to do is graph a known equation. But in some problems, we give you only â€Å"qualitative† information about the consumer’s preferences and ask you to sketch indi? erence curves that are consistent with this information. This requires a little more thought. Don’t be surprised or disappointed if you cannot immediately see the answer when you look at a problem, and don’t expect that you will ? nd the answers hiding somewhere in your textbook. The best way we know to ? nd answers is to â€Å"think and doodle. † Draw some axes on scratch paper and label them, then mark a point on your graph and ask yourself, â€Å"What other points on the graph would the consumer ? d indi? erent to this point? † If possible, draw a curve connecting such points, making sure that the shape of the line you draw re? ects the features required by the problem. This gives you one indi? erence curve. Now pick another point that is preferred to the ? rst one you drew and draw an indi? erence curve throug h it. Example: Jocasta loves to dance and hates housecleaning. She has strictly convex preferences. She prefers dancing to any other activity and never gets tired of dancing, but the more time she spends cleaning house, the less happy she is. Let us try to draw an indi? erence curve that is consistent with her preferences. There is not enough information here to tell us exactly where her indi? erence curves go, but there is enough information to determine some things about their shape. Take a piece of scratch paper and draw a pair of axes. Label the horizontal axis â€Å"Hours per day of housecleaning. † Label the vertical axis â€Å"Hours per day of dancing. † Mark a point a little ways up the vertical axis and write a 4 next to it. At this point, she spends 4 hours a day dancing and no time housecleaning. Other points that would be indi? erent to this point would have to be points where she did more dancing and more housecleaning. The pain of the extra housekeeping should just compensate for the pleasure of the extra dancing. So an indi? erence curve for Jocasta must be upward sloping. Because she loves dancing and hates housecleaning, it must be that she prefers all the points above this indi? erence curve to all of the points on or below it. If Jocasta has strictly convex preferences, then it must be that if you draw a line between any two points on the same indi? rence curve, all the points on the line (except the endpoints) are preferred to the endpoints. For this to be the case, it must be that the indi? erence curve slopes upward ever more steeply as you move to the right along it. You should convince yourself of this by making some drawings on scratch 18 PREFERENCES (Ch. 3) paper. Draw an upward-sloping curve passing through the point (0, 4) and getting steeper as one moves to the right. When you have completed this workout, we hope that you will be able to do the following: †¢ Given the formula for an indi? erence curve, draw this curve, and ? d its slope at any point on the curve. †¢ Determine whether a consumer prefers one bundle to another or is indi? erent between them, given speci? c indi? erence curves. †¢ Draw indi? erence curves for the special cases of perfect substitutes and perfect complements. †¢ Draw indi? erence curves for someone who dislikes one or both commodities. †¢ Draw indi? erence curves for someone who likes goods up to a point but who can get â€Å"too much† of one or more goods. †¢ Identify weakly preferred sets and determine whether these are convex sets and whether preferences are convex. Know what the marginal rate of substitution is and be able to determine whether an indi? erence curve exhibits â€Å"diminishing marginal rate of substitution. † †¢ Determine whether a preferenc e relation or any other relation between pairs of things is transitive, whether it is re? exive, and whether it is complete. 3. 1 (0) Charlie likes both apples and bananas. He consumes nothing else. The consumption bundle where Charlie consumes xA bushels of apples per year and xB bushels of bananas per year is written as (xA , xB ). Last year, Charlie consumed 20 bushels of apples and 5 bushels of bananas. It happens that the set of consumption bundles (xA , xB ) such that Charlie is indi? erent between (xA , xB ) and (20, 5) is the set of all bundles such that xB = 100/xA . The set of bundles (xA , xB ) such that Charlie is just indi? erent between (xA , xB ) and the bundle (10, 15) is the set of bundles such that xB = 150/xA . (a) On the graph below, plot several points that lie on the indi? erence curve that passes through the point (20, 5), and sketch this curve, using blue ink. Do the same, using red ink, for the indi? erence curve passing through the point (10, 15). b) Use pencil to shade in the set of commodity bundles that Charlie weakly prefers to the bundle (10, 15). Use blue ink to shade in the set of commodity bundles such that Charlie weakly prefers (20, 5) to these bundles. NAME 19 Bananas 40 30 20 10 ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,, ,,,,,, ,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, Red Curve ,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, Pencil Shading ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, Blue Curve ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, Blue Shading ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,, 10 20 30 40 Apples 0 For each of the following statements about Charlie’s preferences, write â€Å"true† or â€Å"false. † (c) (30, 5) ? (10, 15). (d) (10, 15) (e) (20, 5) (f ) (24, 4) (g) (11, 14) (20, 5). (10, 10). (11, 9. 1). (2, 49). True. True. True. False. True. (h) A set is convex if for any two points in the set, the line segment between them is also in the set. Is the set of bundles that Charlie weakly prefers to (20, 5) a convex set? Yes. (i) Is the set of bundles that Charlie considers inferior to (20, 5) a convex set? No. rate of (j) The slope of Charlie’s indi? erence curve through a point, (xA , xB ), is known as his marginal substitution at that point. 20 PREFERENCES (Ch. 3) (k) Remember that Charlie’s indi? rence curve through the point (10, 10) has the equation xB = 100/xA . Those of you who know calculus will remember that the slope of a curve is just its derivative, which in this case is ? 100/x2 . (If you don’t know calculus, you will have to take our A word for this. ) Find Charlie’s marginal rate of substitution at the point, (10, 10). ?1. ?4. (l) What is his marginal rate of substitution at the point (5, 20)? (m) What is his marginal rate of substitution at the point (20, 5)? (?. 25). (n) Do the indi? erence curves you have drawn for Charlie exhibit diminishing marginal rate of substitution? Yes. 3. 2 (0) Ambrose consumes only nuts and berries. Fortunately, he likes both goods. The consumption bundle where Ambrose consumes x1 units of nuts per week and x2 units of berries per week is written as (x1 , x2 ). The set of consumption bundles (x1 , x2 ) such that Ambrose is indi? erent between (x1 , x2 ) and (1, 16) is the set of bundles such that x1 ? 0, x2 ? 0, v and x2 = 20 ? 4 x1 . The set of bundles (x1 , x2 ) such that (x1 , x2 ) ? v (36, 0) is the set of bundles such that x1 ? 0, x2 ? 0 and x2 = 24 ? 4 x1 . (a) On the graph below, plot several points that lie on the indi? erence curve that passes through the point (1, 16), and sketch this curve, using blue ink. Do the same, using red ink, for the indi? erence curve passing through the point (36, 0). b) Use pencil to shade in the set of commodity bundles that Ambrose weakly prefers to the bundle (1, 16). Use red ink to shade in the set of all commodity bundles (x1 , x2 ) such that Ambrose weakly prefers (36, 0) to these bundles. Is the set of bundles that Ambrose prefers to (1, 16) a convex set? Yes. (c) Wh at is the slope of Ambrose’s indi? erence curve at the point (9, 8)? (Hint: Recall from calculus the way to calculate the slope of a curve. If you don’t know calculus, you will have to draw your diagram carefully and estimate the slope. ) ?2/3. NAME 21 (d) What is the slope of his indi? erence curve at the point (4, 12)? ?1. Berries 40 30 20 10 ,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, Pencil Shading ,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, Red Curve ,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,, ,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, Red ,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, Blue Curve ,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, Shading ,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,, 10 20 30 40 Nuts , 0 (e) What is the slope of his indi? erence curve at the point (9, 12)? at the point (4, 16)? ?2/3 ?1. (f ) Do the indi? erence curves you have drawn for Ambrose exhibit diminishing marginal rate of substitution? Yes. (g) Does Ambrose have convex preferences? Yes. 3. 3 (0) Shirley Sixpack is in the habit of drinking beer each evening while watching â€Å"The Best of Bowlerama† on TV. She has a strong thumb and a big refrigerator, so she doesn’t care about the size of the cans that beer comes in, she only cares about how much beer she has. (a) On the graph below, draw some of Shirley’s indi? erence curves between 16-ounce cans and 8-ounce cans of beer. Use blue ink to draw these indi? erence curves. 22 PREFERENCES (Ch. 3) 8-ounce 8 6 Blue Lines 4 Red Lines 2 0 2 4 6 8 16-ounce (b) Lorraine Quiche likes to have a beer while she watches â€Å"Masterpiece Theatre. † She only allows herself an 8-ounce glass of beer at any one time. Since her cat doesn’t like beer and she hates stale beer, if there is more than 8 ounces in the can she pours the excess into the sink. (She has no moral scruples about wasting beer. On the graph above, use red ink to draw some of Lorraine’s indi? erence curves. 3. 4 (0) Elmo ? nds himself at a Coke machine on a hot and dusty Sunday. The Coke machine requires exact change—two quarters and a dime. No other combination of coins will make anything come out of the machine. No stores are open; no one is in sight. Elmo is so thirsty that the only thing he cares about is how many soft drinks he will be able to buy with the change in his pocket; the more he can buy, the better. While Elmo searches his pockets, your task is to draw some indi? erence curves that describe Elmo’s preferences about what he ? nds. NAME 23 Dimes 8 6 4 2 ,,,,,,,,,,,, , , ,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,, , ,,,,,,,,,,,, , , ,,,,,,,,,,,,,,,,,, , ,,,,,,,,,,,, , , ,,,,,,,,,,,,,,,,,, , ,,,,,,,,,,,, , , ,,,,,,,,,,,,,,,,,, , Blue ,,,,,,,,,,,, , , ,,,,,,,,,,,,,,,,,, Red , ,,,,,,,,,,,, , , ,,,,,,,,,,,,,,,,,, , shading ,,,,,,,,,,,, , , ,,,,,,,,,,,,,,,,,, shading , ,,,,,,,,,,,, , , ,,,,,,,,,,,,,,,,,, , ,,,,,,,,,,,, , , ,,,,,,,,,,,,,,,,,, , ,,,,,,,,,,,, , , ,,,,,,,,,,,,,,,,,, , ,,,,,,,,,,,, , , ,,,,,,,,,,,,,,,,,, , ,,,,,,,,,,,, , , ,,,,,,,,,,,,,,,,,, , ,,,,,,,,,,,, , , ,,,,,,,,,,,,,,,,,, ,,,,,, ,,,,,,,,,,,, , , ,,,, ,,,,,,,,,,,,,, , ,,,,,,,,,,,, , , , ,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,, , , , ,,,,,,,,,,,,,,,,,, Black ,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,, ,,,,,,,,,,,, , , ,,,,,,,,,,,, , , ,,,,,,,,,,,,,,,,,, , lines ,,,,,,,,,,,,,,,,,, , , , ,,,,,,,,,,,,,,,,,, , , ,,,,,,,,,,,,,,,,,, , 2 4 6 8 Quarters 0 (a) If Elmo has 2 quarters and a dime in his pockets, he can buy 1 soft drink. How many soft drinks can he buy if he has 4 quarters and 2 dimes? 2. (b) Use red ink to shade in the area on the graph consisting of all combinations of quarters and dimes that Elmo thinks are just indi? rent to having 2 quarters and 1 dime. (Imagine that it is possible for Elmo to have fractions of quarters or of dimes, but, of course, they would be useless in the machine. ) Now use blue ink to shade in the area consisting of all combinations that Elmo thinks are just indi? erent to having 4 quarters and 2 dimes. Notice that Elmo has indi? erence â€Å"bands,† not indi? erence curves. (c) Does Elmo have convex preferences between dimes and quarters? Yes. (d) Does Elmo always prefer more of both kinds of money to less? No. (e) Does Elmo have a bliss point? No. (f ) If Elmo had arrived at the Coke machine on a Saturday, the drugstore across the street would have been open. This drugstore has a soda fountain that will sell you as much Coke as you want at a price of 4 cents an ounce. The salesperson will take any combination of dimes and quarters in payment. Suppose that Elmo plans to spend all of the money in his pocket on Coke at the drugstore on Saturday. On the graph above, use pencil or black ink to draw one or two of Elmo’s indi? erence curves between quarters and dimes in his pocket. (For simplicity, draw your graph 24 PREFERENCES (Ch. 3) as if Elmo’s fractional quarters and fractional dimes are accepted at the corresponding fraction of their value. ) Describe these new indi? erence curves in words. Line segments with slope ? 2. 5. 3. (0) Randy Ratpack hates studying both economics and history. The more time he spends studying either subject, the less happy he is. But Randy has strictly convex preferences. (a) Sketch an indi? erence curve for Randy where the two commodities are hours per week spent studying economics and hours per we ek spent studying history. Will the slope of an indi? erence curve be positive or negative? Negative. Steeper. (b) Do Randy’s indi? erence curves get steeper or ? atter as you move from left to right along one of them? Hours studying history 8 6 Preference direction 4 2 0 2 4 6 8 Hours studying economics 3. 6 (0) Flossy Toothsome likes to spend some time studying and some time dating. In fact her indi? rence curves between hours per week spent studying and hours per week spent dating are concentric circles around her favorite combination, which is 20 hours of studying and 15 hours of dating per week. The closer she is to her favorite combination, the happier she is. NAME 25 (a) Suppose that Flossy is currently studying 25 hours a week and dating 3 hours a week. Would she prefer to be studying 30 hours a week and dating 8 hours a week? Yes. (Hint: Remember the formula for the distance between two points in the plane? ) (b) On the axes below, draw a few of Flossy’s indi? erence curves and use your diagram to illustrate which of the two time allocations discussed above Flossy would prefer. Hours dating 40 30 Preference direction 20 (20,15) 10 (30,8) (25,3) 0 10 20 30 40 Hours studying , 3. 7 (0) Joan likes chocolate cake and ice cream, but after 10 slices of cake, she gets tired of cake, and eating more cake makes her less happy. Joan always prefers more ice cream to less. Joan’s parents require her to eat everything put on her plate. In the axes below, use blue ink to draw a set of indi? erence curves that depict her preferences between plates with di? erent amounts of cake and ice cream. Be sure to label the axes. (a) Suppose that Joan’s preferences are as before, but that her parents allow her to leave anything on her plate that she doesn’t want. On the graph below, use red ink to draw some indi? erence curves depicting her preferences between plates with di? erent amounts of cake and ice cream. Ice cream Blue curves Red curves Preference direction 10 Chocolate cake 26 PREFERENCES (Ch. 3) 3. 8 (0) Professor Goodheart always gives two midterms in his communications class. He only uses the higher of the two scores that a student gets on the midterms when he calculates the course grade. (a) Nancy Lerner wants to maximize her grade in this course. Let x1 be her score on the ? rst midterm and x2 be her score on the second midterm. Which combination of scores would Nancy prefer, x1 = 20 and x2 = 70 or x1 = 60 and x2 = 60? (20,70). b) On the graph below, use red ink to draw an indi? erence curve showing all of the combinations of scores that Nancy likes exactly as much as x1 = 20 and x2 = 70. Also use red ink to draw an indi? erence curve showing the combinations that Nancy likes exactly as much as x1 = 60 and x2 = 60. (c) Does Nanc y have convex preferences over these combinations? No. Grade on second midterm 80 60 Red curves Blue curves 40 , 20 Preference direction 0 20 40 60 80 Grade on first midterm (d) Nancy is also taking a course in economics from Professor Stern. Professor Stern gives two midterms. Instead of discarding the lower grade, Professor Stern discards the higher one. Let x1 be her score on the ? st midterm and x2 be her score on the second midterm. Which combination of scores would Nancy prefer, x1 = 20 and x2 = 70 or x1 = 60 and x2 = 50? (60,50). (e) On the graph above, use blue ink to draw an indi? erence curve showing all of the combinations of scores on her econ exams that Nancy likes exactly as well as x1 = 20 and x2 = 70. Also use blue ink to draw an indi? erence curve showing the combinations that Nancy likes exactly as well as x1 = 60 and x2 = 50. Does Nancy have convex preferences over these combinations? Yes. NAME 27 3. 9 (0) Mary Granola loves to consume two goods, grapefruits and a vocados. (a) On the graph below, the slope of an indi? rence curve through any point where she has more grapefruits than avocados is ? 2. This means that when she has more grapefruits than avocados, she is willing to give up 2 grapefruit(s) to get one avocado. (b) On the same graph, the slope of an indi? erence curve at points where she has fewer grapefruits than avocados is ? 1/2. This means that when she has fewer grapefruits than avocados, she is just willing to give up 1/2 grapefruit(s) to get one avocado. (c) On this graph, draw an indi? erence curve for Mary through bundle (10A, 10G). Draw another indi? erence curve through (20A, 20G). Grapefruits 40 30 Slope -2 20 10 Slope -1/2 45 0 10 20 30 40 Avocados (d) Does Mary have convex preferences? Yes. 3. 0 (2) Ralph Rigid likes to eat lunch at 12 noon. However, he also likes to save money so he can buy other consumption goods by attending the â€Å"early bird specials† and â€Å"late lunchers† promoted by his local d iner. Ralph has 15 dollars a day to spend on lunch and other stu?. Lunch at noon costs $5. If he delays his lunch until t hours after noon, he is able to buy his lunch for a price of $5 ? t. Similarly if he eats his lunch t hours before noon, he can buy it for a price of $5 ? t. (This is true for fractions of hours as well as integer numbers of hours. ) (a) If Ralph eats lunch at noon, how much money does he have per day to spend on other stu $10. 8 PREFERENCES (Ch. 3) (b) How much money per day would he have left for other stu? if he ate at 2 P. M.? $12. (c) On the graph below, use blue ink to draw the broken line that shows combinations of meal time and money for other stu? that Ralph can just a? ord. On this same graph, draw some indi? erence curves that would be consistent with Ralph choosing to eat his lunch at 11 A. M. Money 20 15 10 5 0 10 11 12 1 2 Time 3. 11 (0) Henry Hanover is currently consuming 20 cheeseburgers and 20 Cherry Cokes a week. A typical indi? erence curve fo r Henry is depicted below. Cherry Coke 40 30 20 10 0 10 20 30 40 Cheeseburgers NAME 29 (a) If someone o? red to trade Henry one extra cheeseburger for every Coke he gave up, would Henry want to do this? No. Yes. (b) What if it were the other way around: for every cheeseburger Henry gave up, he would get an extra Coke. Would he accept this o? er? (c) At what rate of exchange would Henry be willing to stay put at his current consumption level? 2 cheeseburgers for 1 Coke. 3. 12 (1) Tommy Twit is happiest when he has 8 cookies and 4 glasses of milk per day. Whenever he has more than his favorite amount of either food, giving him still more makes him worse o?. Whenever he has less than his favorite amount of either food, giving him more makes him better o?. His mother makes him drink 7 glasses of milk and only allows him 2 cookies per day. One day when his mother was gone, Tommy’s sadistic sister made him eat 13 cookies and only gave him 1 glass of milk, despite the fact that Tommy complained bitterly about the last 5 cookies that she made him eat and begged for more milk. Although Tommy complained later to his mother, he had to admit that he liked the diet that his sister forced on him better than what his mother demanded. (a) Use black ink to draw some indi? erence curves for Tommy that are consistent with this story. Milk 12 11 10 9 8 7 6 5 4 3 2 1 (13,1) 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 (8,4) (2,7) Cookies 30 PREFERENCES (Ch. 3) b) Tommy’s mother believes that the optimal amount for him to consume is 7 glasses of milk and 2 cookies. She measures deviations by absolute values. If Tommy consumes some other bundle, say, (c, m), she measures his departure from the optimal bundle by D = |7 ? m| + |2 ? c|. The larger D is, the worse o? she thinks Tommy is. Use blue ink in the graph above to sketch a few of Mrs. Twit’s indi? erence curves for Tommy’s consumption. (Hint: Before you try to draw Mrs. Twit’s indi? erence curves, we suggest that you take a piece of scrap paper and draw a graph of the locus of points (x1 , x2 ) such that |x1 | + |x2 | = 1. ) 3. 13 (0) Coach Steroid likes his players to be big, fast, and obedient. If player A is better than player B in two of these three characteristics, then Coach Steroid prefers A to B, but if B is better than A in two of these three characteristics, then Steroid prefers B to A. Otherwise, Steroid is indi? erent between them. Wilbur Westinghouse weighs 340 pounds, runs very slowly, and is fairly obedient. Harold Hotpoint weighs 240 pounds, runs very fast, and is very disobedient. Jerry Jacuzzi weighs 150 pounds, runs at average speed, and is extremely obedient. (a) Does Steroid prefer Westinghouse to Hotpoint or vice versa? He prefers Westinghouse to Hotpoint. (b) Does Steroid prefer Hotpoint to Jacuzzi or vice versa? He prefers Hotpoint to Jacuzzi. (c) Does Steroid prefer Westinghouse to Jacuzzi or vice versa? He prefers Jacuzzi to Westinghouse. (d) Does Coach Steroid have transitive preferences? No. e) After several losing seasons, Coach Steroid decides to change his way of judging players. According to his new preferences, Steroid prefers player A to play er B if player A is better in all three of the characteristics that Steroid values, and he prefers B to A if player B is better at all three things. He is indi? erent between A and B if they weigh the same, are equally fast, and are equally obedient. In all other cases, Coach Steroid simply says â€Å"A and B are not comparable. † (f ) Are Coach Steroid’s new preferences complete? (g) Are Coach Steroid’s new preferences transitive? No. Yes. NAME 31 (h) Are Coach Steroid’s new preferences re? exive? Yes. 3. 14 (0) The Bear family is trying to decide what to have for dinner. Baby Bear says that his ranking of the possibilities is (honey, grubs, Goldilocks). Mama Bear ranks the choices (grubs, Goldilocks, honey), while Papa Bear’s ranking is (Goldilocks, honey, grubs). They decide to take each pair of alternatives and let a majority vote determine the family rankings. (a) Papa suggests that they ? rst consider honey vs. grubs, and then the winner of that contest vs. Goldilocks. Which alternative will be chosen? Goldilocks. (b) Mama suggests instead that they consider honey vs. Goldilocks and then the winner vs. grubs. Which gets chosen? Grubs. (c) What order should Baby Bear suggest if he wants to get his favorite food for dinner? Grubs versus Goldilocks, then Honey versus the winner. d) Are the Bear family’s â€Å"collective preferences,† as determined by voting, transitive? No. 3. 15 (0) Olson likes strong co? ee, the stronger the better. But he can’t distinguish small di? erences. Over the years, Mrs. Olson has discovered th at if she changes the amount of co? ee by more than one teaspoon in her six-cup pot, Olson can tell that she did it. But he cannot distinguish di? erences smaller than one teaspoon per pot. Where A and B are two di? erent cups of co? ee, let us write A B if Olson prefers cup A to cup B. Let us write A B if Olson either prefers A to B, or can’t tell the di? erence between them. Let us write A ? B if Olson can’t tell the di? erence between cups A and B. Suppose that Olson is o? red cups A, B, and C all brewed in the Olsons’ six-cup pot. Cup A was brewed using 14 teaspoons of co? ee in the pot. Cup B was brewed using 14. 75 teaspoons of co? ee in the pot and cup C was brewed using 15. 5 teaspoons of co? ee in the pot. For each of the following expressions determine whether it is true of false. (a) A ? B. (b) B ? A. True. True. 32 PREFERENCES (Ch. 3) (c) B ? C. (d) A ? C. (e) C ? A. (f ) A B. True. False. False. True. True. True. False. True. False. False. False. Fa lse. True. , transitive? (g) B A. (h) B C. (i) A C. (j) C A. (k) A B. (l) B A. (m) B C. (n) A C. (o) C A. (p) Is Olson’s â€Å"at-least-as-good-as† relation, No. No. (q) Is Olson’s â€Å"can’t-tell-the-di? rence† relation, ? , transitive? (r) is Olson’s â€Å"better-than† relation, , transitive. Yes. Chapter 4 NAME Utility Introduction. In the previous chapter, you learned about preferences and indi? erence curves. Here we study another way of describing preferences, the utility function. A utility function that represents a person’s preferences is a function that assigns a utility number to each commodity bundle. The numbers are assigned in such a way that commodity bundle (x, y) gets a higher utility number than bundle (x , y ) if and only if the consumer prefers (x, y) to (x , y ). If a consumer has the utility function U (x1 , x2 ), then she will be indi? rent between two bundles if they are assigned the same utility. If yo u know a consumer’s utility function, then you can ?nd the indi? erence curve passing through any commodity bundle. Recall from the previous chapter that when good 1 is graphed on the horizontal axis and good 2 on the vertical axis, the slope of the indi? erence curve passing through a point (x1 , x2 ) is known as the marginal rate of substitution. An important and convenient fact is that the slope of an indi? erence curve is minus the ratio of the marginal utility of good 1 to the marginal utility of good 2. For those of you who know even a tiny bit of calculus, calculating marginal utilities is easy. To ? d the marginal utility of either good, you just take the derivative of utility with respect to the amount of that good, treating the amount of the other good as a constant. (If you don’t know any calculus at all, you can calculate an approximation to marginal utility by the method described in your textbook. Also, at the beginning of this section of the workbook, we list the marginal utility functions for commonly encountered utility functions. Even if you can’t compute these yourself, you can refer to this list when later problems require you to use marginal utilities. ) Example: Arthur’s utility function is U (x1 , x2 ) = x1 x2 . Let us ? nd the indi? rence curve for Arthur that passes through the point (3, 4). First, calculate U (3, 4) = 3 ? 4 = 12. The indi? erence curve through this point consists of all (x1 , x2 ) such that x1 x2 = 12. This last equation is equivalent to x2 = 12/x1 . Therefore to draw Arthur’s indi? erence curve through (3, 4), just draw the curve with equation x2 = 12/x1 . At the point (x1 , x2 ), the marginal utility of good 1 is x2 and the marginal utility of good 2 is x1 . Therefore Arthur’s marginal rate of substitution at the point (3, 4) is ? x2 /x1 = ? 4/3. Example: Arthur’s uncle, Basil, has the utility function U ? (x1 , x2 ) = 31 x2 ? 10. Notice that U ? (x1 , x2 ) = 3U (x1 , x2 ) ? 0, where U (x1 , x2 ) is Arthur’s utility function. Since U ? is a positive multiple of U minus a constant, it must be that any change in consumption that increases U will also increase U ? (and vice versa). Therefore we say that Basil’s utility function is a monotonic increasing transformation of Arthur’s utility function. Let 34 UTILITY (Ch. 4) us ? nd Basil’s indi? erence curve through the point (3, 4). First we ? nd that U ? (3, 4) = 3? 3? 4? 10 = 26. The indi? erence curve passing through this point consists of all (x1 , x2 ) such that 31 x2 ? 10 = 26. Simplify this last expression by adding 10 to both sides of the equation and dividing both sides by 3. You ? d x1 x2 = 12, or equivalently, x2 = 12/x1 . This is exactly the same curve as Arthur’s indi? erence curve through (3, 4). We could have known in advance that this would happen, because if two consumers’ utility functions are monotonic increasing transformations of each othe r, then these consumers must have the same preference relation between any pair of commodity bundles. When you have ? nished this workout, we hope that you will be able to do the following: †¢ Draw an indi? erence curve through a speci? ed commodity bundle when you know the utility function. †¢ Calculate marginal utilities and marginal rates of substitution when you know the utility function. Determine whether one utility function is just a â€Å"monotonic transformation† of another and know what that implies about preferences. †¢ Find utility functions that represent preferences when goods are perfect substitutes and when goods are perfect complements. †¢ Recognize utility functions for commonly studied preferences such as perfect substitutes, perfect complements, and other kinked indi? erence curves, quasilinear utility, and Cobb-Douglas utility. 4. 0 Warm Up Exercise. This is the ? rst of several â€Å"warm up exercises† that you will ? nd in Wor kouts. These are here to help you see how to do calculations that are needed in later problems. The answers to all warm up exercises are in your answer pages. If you ? d the warm up exercises easy and boring, go ahead—skip them and get on to the main problems. You can come back and look at them if you get stuck later. This exercise asks you to calculate marginal utilities and marginal rates of substitution for some common utility functions. These utility functions will reappear in several chapters, so it is a good idea to get to know them now. If you know calculus, you will ? nd this to be a breeze. Even if your calculus is shaky or nonexistent, you can handle the ? rst three utility functions just by using the de? nitions in the textbook. These three are easy because the utility functions are linear. If you do not know any calculus, ? l in the rest of the answers from the back of the workbook and keep a copy of this exercise for reference when you encounter these utility fun ctions in later problems. NAME 35 u(x1 , x2 ) 21 + 32 41 + 62 ax1 + bx2 v 2 x1 + x 2 ln x1 + x2 v(x1 ) + x2 x1 x2 xa xb 1 2 (x1 + 2)(x2 + 1) (x1 + a)(x2 + b) xa + x a 1 2 M U1 (x1 , x2 ) M U2 (x1 , x2 ) M RS(x1 , x2 ) 2 4 a v1 x1 3 6 b 1 1 1 x1 bxaxb? 1 1 2 x1 + 2 x1 + a axa? 1 2 ? ? ? ?2/3 ? 2/3 ? a/b ? v1 1 x ? 1/x1 ? v (x1 ) ? x2 /x1 2 ? ax1 bx 1/x1 v (x1 ) x2 axa? 1 xb 2 1 x2 + 1 x2 + b axa? 1 1 x2 +1 x1 +2 x2 +b x1 +a a? 1 x1 x2 36 UTILITY (Ch. 4) 4. 1 (0) Remember Charlie from Chapter 3? Charlie consumes apples and bananas. We had a look at two of his indi? erence curves. In this problem we give you enough information so you can ? nd all of Charlie’s indi? erence curves. We do this by telling you that Charlie’s utility function happens to be U (xA , xB ) = xA xB . (a) Charlie has 40 apples and 5 bananas. Charlie’s utility for the bundle (40, 5) is U (40, 5) = 200. The indi? erence curve through (40, 5) includes all commodity bundles (xA , xB ) such that xA xB = 200. So 200 the indi? erence curve through (40, 5) has the equation xB = . On xA the graph below, draw the indi? erence curve showing all of the bundles that Charlie likes exactly as well as the bundle (40, 5). Bananas 40 30 20 10 10 20 30 40 Apples (b) Donna o? ers to give Charlie 15 bananas if he will give her 25 apples. Would Charlie have a bundle that he likes better than (40, 5) if he makes this trade? Yes. What is the largest number of apples that Donna could demand from Charlie in return for 15 bananas if she expects h im to be willing to trade or at least indi? erent about trading? 30. (Hint: If Donna gives Charlie 15 bananas, he will have a total of 20 bananas. If he has 20 bananas, how many apples does he need in order to be as well-o? as he would be without trade? ) 4. 2 (0) Ambrose, whom you met in the last chapter, continues to thrive on nuts and berries. You saw two of his indi? erence curves. One indifv ference curve had the equation x2 = 20 ? 4 x1 , and another indi? erence v curve had the equation x2 = 24 ? 4 x1 , where x1 is his consumption of NAME 37 nuts and x2 is his consumption of berries. Now it can be told that Ambrose has quasilinear utility. In fact, his preferences can be represented v by the utility function U (x1 , x2 ) = 4 x1 + x2 . (a) Ambrose originally consumed 9 units of nuts and 10 units of berries. His consumption of nuts is reduced to 4 units, but he is given enough berries so that he is just as well-o? as he was before. After the change, how many units of berries does Ambrose consume? 14.

Was life better in 1900 or 1945 for a minority group in Australia - Aborigines. Key Understanding 1.5 - effects of cultural experiences on Australian society

Was life better in 1900 or 1945 for a minority group in Australia - Aborigines. Key Understanding 1.5 - effects of cultural experiences on Australian society Aboriginal people in Australia fared better in 1945 than they di in 1900, due to policies of assimilation rather than protectionism. Although life for Aborigines was still far from their free spirited existence pre colonisation; gradual changes in the way they were treated meant life was somewhat better in 1945, but still faced racism and . In a post colonial society, the Aboriginal people were marginalised and oppressed by the paternalistic policies forming the Aboriginal Act, amended 1905. This act restricted aspects of everyday life, such as not being allowed to camp in or near town, buy alcohol, and be seen as guilty until proven innocent. Chief Protector Neville was also a key factor in Aboriginal disempowerment and further erosion of the Aboriginal culture. Although Aborigines suffered many injustices during this time period, it would appear that life had improved overall by 1945. The experiences of Australia's Aborigines have shaped the nation, making us more accepting of diff erent cultures and the racism and prejudice that was once prevalent in society has decreased.English: President George W. Bush enjoys a perform...There was little for Aborigines to celebrate when Australia federated in January 1901. They were excluded in the March 1901 census, which recorded 3,773,801 non Indigenous people living in Australia, and faced government and community racism. The population of Aboriginal people had fallen from 300,000 when whites first settled in 1788 to just 60,000. The Australian constitution made only two references to Aborigines, Sections 51 and 127, which were both aimed at excluding them from the new nation. In 1902, Parliament debated the Commonwealth Franchise Act, and the vote was given to women but not to Aboriginal people. This was because many people felt that to grant franchise to Aborigines is to confer a short-lived privelage on a dying race. This idea stemmed from the social Darwinist...

Maori Studies Essay Example | Topics and Well Written Essays - 1000 words

Maori Studies - Essay Example It involves the idea that ensures meaning to all the parts of the MÄ ori culture. This translates to adequate understanding and analysis of the word. The simple definition of the term mana entails; the life force and aura that an individual possesses to generate respect from his whakapapa (meaning family), hapÃ… « (representing clan) and iwi (representing the tribe); by effect this leads to influence and power over them, the subjects (Ka’ai, Moorfield, Reilly, Mosley 2004:15). Just like any other representation of the MÄ ori life, pÃ… whiri is deeply connected with concept of mana that plays an important role during the entire ceremony. Representing one of the significant rituals in the MÄ ori culture, pÃ… whiri remains a major tradition in the modern society. Initially it was developed as a process utilized in understanding the aims of visitors or foreigners, and if they can be welcomed as friends into the marae or turned off like enemies. In the modern context, the concept remains an approach of meeting newcomers to marae; however, it more so illustrates formality. It should be understood that mana illustrates in different forms; and this explains different life aspects. Firstly, mana atua is derived from the gods. Secondly, mana tà ºpuna is inherited. Also, mana tangata is got through actions. Mana whenua is got from land. Finally, mana wahine represents that owned by women. These are just a few examples (Ka’ai et al 2004:14-15). These aspects of mana are received and also lost independently; however, they are all similarly important in the MÄ ori society. Furthermore, this lacks detracts from general mana of the person (mana MÄ ori motuhake). Due to mana’s nature, all these mana categories are found in different degrees in pÃ… whiri. Some play greater roles, and others are in the pÃ… whiri in similar significance as in

Mercy Killing or Just Killing Essay Example | Topics and Well Written Essays - 1500 words - 4

Mercy Killing or Just Killing - Essay Example Proponents for euthanasia have passionately defended their position for accepting and adopting its practice. World people are facing ever-growing moral dilemmas. With the advancements in the medical field also come new procedures as well as easier ways to deal with problems. A popular moral dilemma that comes to mind is abortion. Now many people are against abortion for religious reasons. Moreover, just like abortion, many consider assisted suicide as murder. However, it is both ridiculous and irrelevant to argue on whether assisted suicide should be legal. When I was young, my Oma (grandmother) was diagnosed with Alzheimer’s disease. For years, she lingered in the home as her mind slowly decayed over time. First, she could not remember how to speak English. She would be talking and resort to her childhood language at random points. Therefore, she would say a 10-word sentence and a half of it would be spoken in English. Next came the hard memory, she would forget simple tasks and could not be left on her own. She would forget the location of the bathroom was in her own home. Next was perhaps the hardest to deal with, she forgot our names. First came distant relatives but finally, she could not remember my mom’s name, her own daughter. Lastly, she forgot how to do pretty much anything; she could not button shirts, she could not even move at all. When she was in the home, she got bedsores from lack of movement. Moreover, she could not get up to go to the bathroom. Now, this is obviously horrible but the worst was the few mom ents where she had a small amount of clarity where 2 seconds here 3 seconds there she would remember how to talk. I recall one such moment when she simply said to my mom who was visiting her in the home, she simply said, â€Å"help me.† I remember how it crushed my mother and crushed me. Now everyone has his or her own religion and personal belief but I will now ask you a very philosophical question.  

Pick Your Family Essay Example for Free

Pick Your Family Essay The dictionary definition of family is: all the descendants of a common ancestor. Although this statement is true, some would disagree and say that the meaning to the word â€Å"family† goes far beyond that simple definition. Many people consider friends, schoolmates, animals, friends of a parent, and co-workers to be their family as well. Your whole family can be made up of many people that are not necessarily your real family. The relationship you share with another individual classifies them as a family member. These people may not be your relative at all, but someone you feel a strong connection to for one reason or another. Just because someone is your family member by blood, does not mean you have to have a close relationship with him or her. Your family can be extended from your nuclear family because another person may be very special to you, or makes you feel loved enough that you would consider them a part of your family. Children that lose their mother and father might have someone take care of them that are not blood related. In a situation like this, the child’s real family is not apart of the family that raises them and takes care of them. Family is more of a concept and more about the relationship that the two people share. In a case where parents have died or some other circumstance has arisen where they cannot provide for their child, strangers or friends may assist in raising that child. That would make them the caregivers; they would be the mother and father because they fill that role in the child’s life. Many people may say they have two mothers, this is because they have two people that fill the motherly role in their life and both of those people make them feel loved and appreciated. Another example where your family might not be your real relatives is godmothers or your godfathers. Your godmother or godfather can be anyone that your parents think can and will fill that role best. This may be your blood related uncle or the best man in your parents wedding. Regardless of the blood relation this person is in now classified as your family member. Family can also expand to include more than just humans as well. Most Americans have a pet dog or a pet cat that is considered a part of their family. It is very common in a household environment that animals are added to the mix. Whether it is a family of four wanting to add extra love in their lives, or a lonely college student looking for a companion. Many people add a pet into their homes to love and feel love in return. One might think this classifies that animal as a family member. Animals and humans can share a very special relationship, just like family members share. This special relationship is what makes someone or something a part of your family not just blood. Some people may have very special experiences with another individual. Growing up with a particular friend and experiencing many of life’s challenges and tribulations can make a relationship grow very strong. People that have been there for another person through tragedies, deaths, illness, hardships and times of celebration share special bonds. These people may refer to each other as brothers or sisters or second daughters or sons. It is the many experiences and the compassion and empathy that people share with one another that make them feel that closeness with one another. They will often refer to these special people as â€Å"family members†, although they have no blood relation. Many people that are not your real relatives can be more like your family than your real family. There are many reasons that families break up, or do not speak any longer. Death, distance, past arguments and sickness can all be some reasons why you are not close to your blood family. Most people know of someone who may no longer speak to their mother, father, sister, or brother; this kind of thing happens all the time. This is very common after a parent’s death, and the children have to disperse the parent’s valuables. You can’t pick your family, but you can pick your friends. Sometimes those friends treat you better than your own family. They’re a surplus of people that might fill a particular role better than others, and the relationship you share with them is what defines them as your family member.

Body Dysmorphic Disorder :: Body Dysmorphic Disorder

Northeastern University sophomore Terri* spends at least a few minutes a day critiquing her body in the mirror. â€Å"I have this extra fat on my stomach that I hate,† she said, squeezing her abdomen with both hands. Terri is an articulate, responsible, political science major and sociology minor who looks and sounds mature beyond her years. She is well-respected by peers and authority figures alike, and she recently landed a co-op job at a prestigious law firm in Boston. This girl has got herself together. Today, wearing a business-casual purple turtleneck, gray peacoat and glasses, this confident, capable woman points to the area under her chin. â€Å"I’ve just noticed this,† she said, running her fingers under her jaw, across a section of her neck that she believes is dangerously bordering on a double-chin. Like most people, she sees nothing unusual about her physical concerns. â€Å"Everyone worries about aspects of their appearance,† she said as she turns her attention away from the mirror and finishes getting dressed. Many people have concerns with the way they look, but some have obsessive, irrational concerns. Like most people, Terri has never heard of Body Dysmorphic Disorder. Although Terri’s body concerns may not constitute the disorder, there are people among us living with the secretive, shameful reality of BDD. WHAT IS BDD? Few people have ever heard of BDD, but virtually everyone has exhibited the characteristics of the disorder in its most basic form: a heightened concern with a particular part of their body that they deem â€Å"less than perfect,† something that they would like to improve upon and even something that they try to hide. Unlike normal appearance concerns, however, BDD is marked by an intense preoccupation with an imagined defect in appearance. A severe and debilitating psychiatric disorder, BDD is characterized by an obsessive fixation on one or more parts of the body that a person perceives as disgusting and unnatural. If a slight physical abnormality or inconsistency exists in a BDD sufferer’s physicality, their concern is excessive – even to the point of experiencing social withdrawal and suicidal tendencies. Dr. Roberto Olivardia is a clinical psychologist at the McLean Hospital in Boston and teaches psychology at Harvard Medical School. A specialist in BDD and Obsessive-Compulsive disorders, in general, he acknowledges that BDD symptoms are often mistaken as â€Å"normal† fears. â€Å"With BDD there are many, many people walking around in the U.S. who have it that you never know have it. For a lot of people, you don’t know what it is that you have, but you know that life is not normal,† said Dr.