In footnote 7 we showed that for a utility function for two goods to have a strictly diminishing MRS (i. e., to be strictly quasi-concave), the following condition must hold: Uxx U2 y 2 2UxyUxUy 1 UyyU2 x , 0. Use this condition to check the convexity of the indifference curves for each of the utility functions in Problem 3.1. Describe the precise relationship between diminishing marginal utility and quasi-concavity for each case.

Betty contracted with scooby’s skate store to deliver a pair of skates to jake for his birthday. scooby’s owner was going on a trip and delegated the delivery of the skates to brian. brian failed to make delivery.can jake sue brian for breach of contract, as he was not a party to the original contract? explain your answer. brian was not a party to the original contract. why would a court hold him responsible for failing to make delivery? if you do not think a court would hold him responsible, explain your answer. can jake sue scooby’s skates for breach of contract? explain your answer.

Consider a firm with a contract to sell an asset for $149,000 four years from now. the asset costs $85,000 to produce today. a. given a relevant discount rate of 14 percent per year, calculate the profit the firm will make on this asset. (a loss should be indicated by a minus sign. do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. at what rate does the firm just break even?

Match the types of agreements to their descriptions. will trust living will prenuptial agreement provides protection for individual estate plans and keeps family property in the family provides for beneficiaries in the event of a death holds a decease person's assets on behalf of beneficiary has no legal power after a person dies