MsQuasimodo Has the Utility Function U(x, M)= 100x -

question 29

Multiple Choice

Ms.Quasimodo has the utility function U(x, m) = 100x - x²/2 + m, where x is her consumption of earplugs and m is money left over to spend on other stuff.If she has $10,000 to spend on earplugs and other stuff and if the price of earplugs rises from $50 to $70, then her net consumer's surplus

• A)increases by 400.
• B)falls by 2,800.
• C)falls by 600.
• D)falls by 800.
• E)increases by 1,600.

Grasp the concept of directional versus nondirectional hypotheses and their implications.

Learn how to compute the test statistic, including approximating sample size and pooling variances.

Identify when to use a t test for independent means versus other statistical tests.

Recognize the importance and meaning of statistical values in t tests (e.g., t value, p value, critical value).

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