U(x₁,x₂)=1/4㏑(x₁)+3/4㏑(x₂) a) What kind of preferences are these (Cobb-Douglas, quasi-linear, perfect substitutes or perfect complements)?
b) Determine optimal choice for generic prices and income.
c) Determine optimal choice when prices are P₁=3, and P₂=2 and income m =40
d) The price of good 1 decreases to p₁ = 2. Compute the optimal bundle, and then decompose the variation in the demand of good 1 in income and substitution effect according to the Slusky’s method.

In a team environment, a coordinator is? a person with expert knowledge or skills in a particular area the team needs. a good listener who works to resolve social problems among teammates. a leader who team members focus on their tasks. a good networker who likes to explore new ideas and possiblities.

True or flase? a. new technological developments can us adapt to depleting sources of natural resources. b. research and development funds from the government to private industry never pay off for the country as a whole; they only increase the profits of rich corporations. c. in order for fledgling industries in poor nations to thrive, they must receive protection from foreign trade. d. countries with few natural resources will always be poor. e. as long as real gdp (gross domestic product) grows at a slower rate than the population, per capita real gdp increases.

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided