Microeconomics Answers

Assume a hypothetical consumer good X and good Y. the price of good X is 1 and price of good Y is 3 and the consumer budget is birr 10 for the two goods. where: Qx is quantity of good X, Qy is quantity of good Y and TUx and TUy is total Utility from consuming good X and Good Y respectively.
Based on the given information, answer the following questions.
a. Compute the marginal utility of the two goods
b. At what amounts of consumption does diminishing marginal utility starts to occur for the two goods?

Monopolist with a constant MC of 6, sells products in 2 separate markets.
Market 1: P1 = 24 - Q1
Market 2: P2 = 12 - 0.5Q2
(a) Calculate profit-maximizing price and quantity in these 2 market.
(b) Calculate monopolist's total profit
(c) Calculate DWL in market 1

If the price declines from $400 to $300 and as a result quantity demand increases from 1100 to 1400, elasticity of demand is

What is the primary function of tariff on industrial nations? In developing nations?

Discuss whether high government spending on police and armed forces could be result of market failure

What is probability in microecomics?

a product has utility if it

Can you check if my answer is correct?
Why do you think there is such as a difference in the percentage of monthly income spent on rail travel in the UK compared with other European counties mentioned in the article?

In the UK, the British rail is privatised. Rail services in the UK have been provided by private companies. Therefore, giving them the right operate services being costly. However, in Europe, the rail service is a publicly owned system, which is cheaper.
There is no real competition in the UK rail system, commuters around the UK rely on trains to go to work. They can’t commute with alternative rail provider.

https://www.theguardian.com/business/2017/aug/15/uk-commuters-brace-rail-fares-hike-uk-inflation

Can you see if my answer is correct?
According to the articles how does the cost of rail travel in the UK compare with other European countries?
Commuters between Luton and London St Pancras spend £387 on a monthly pass.
In France, the route being a similar length, they spend £61.
In Italy, the route being a similar length costs £62.
The route being a similar length to the UK, in European counties, rail passes cost commuters more that the equivalent of £200, it is still made up less than 8% of the average worker’s monthly earnings.

https://www.theguardian.com/money/datablog/2017/jan/06/tracking-the-cost-uk-and-european-commuter-rail-fares-compared-in-data

According to the articles how does the cost of rail travel in the UK compare with other European countries?
Why do you think there is such a difference in the percentage of monthly income spent on rail travel in the UK compared with other European countries mentioned in the article?

https://www.theguardian.com/business/2017/aug/15/uk-commuters-brace-rail-fares-hike-uk-inflation

https://www.theguardian.com/money/datablog/2017/jan/06/tracking-the-cost-uk-and-european-commuter-rail-fares-compared-in-data