Project #13935 - micro economics

I'm working on my homework and I wanted a little help..

 

I would like for someone to do the problem for me and write down all the steps in detail.

 

This is a very time sensitive project that needs to be completed by 2:30pm

 

 

 

 

Consumers’ Preferences

3. During the last couple of decades the U.S. Navy has confronted the basic decision of whether to build nuclear or conventionally powered aircraft carriers. One of the groups of people that are involved in this decision bases its decision on the effectiveness of the Navy and believes that the effectiveness of the U.S. Navy would be the same if the navy had any of the

following combinations of nuclear and conventionally powered aircraft carriers:

Number of

Nuclear Powered Carriers

Number of
Conventionally
Powered
Carriers

 

A

4

9

B

5

6

C

6

4

D

7

2.5

 

 

 

a. Illustrate combinations A, B, C and D on a graph. Does this group of people prefer any of these combinations over the others? Compute the MRSN,C at combinations A, B, and C.

Does the MRSN,C increase or decrease with N? Explain the intuition for your result.

Suppose that a second group of people that is also involved in this decision assigns a greater weight than the first group to having nuclear powered carriers because nuclear powered

 

carriers are large and impressive and therefore more consistent with their idea of what the “warship of the future” should be.

 

Text Box: 3b. How does the MRSN,C of this second group of people compare to the MRSN,C of the first group at combinations A, B, C and D? Illustrate some plausible indifference curves of this second group on the graph that you have drawn in part a. Does this group of people prefer any of these combinations? Explain.

 

 

 

Subject Business
Due By (Pacific Time) 10/04/2013 02:30 pm
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