In the equilibrium, the marginal utility per dollar spent on good X is equal to the marginal utility per dollar spent on good Y. After the price of good X increases, the marginal utility per dollar spent on good X will fall, encouraging a consumer to purchase less good X and more good Y. This situation is consistent with ___________________.
Read DetailsStep 1: Read the code sample Read the code sample below. Consider what the output would look like as the code is run. import java.util.ArrayList;import java.util.Arrays;import java.util.Collections;import java.util.List;public class ParksAndRec { public static void main(String[] args) { ArrayList names = new ArrayList(); names.add(“Gerry”); names.add(“Tom”); names.add(“Jerry”); names.add(“Mona Lisa”); names.add(“Larry”); names.add(“Leslie”); names.add(“Ron”); names.add(“April”); System.out.println(“Original List:”); for (String name : names) { System.out.println(name); } Collections.sort(names); System.out.println(“\nSorted List:”); for (String name : names) { System.out.println(name); } String nameSearch1= “Andy”; int foundIndex1 = Collections.binarySearch(names, nameSearch1); System.out.println(“Andy’s index is: ” + foundIndex1); String nameSearch2= “Larry”; int foundIndex2= Collections.binarySearch(names, nameSearch2); System.out.println(“Larry’s index is: ” + foundIndex2); String[] namesArray = names.toArray(new String[0]); System.out.println(“\nArray from List:”); for (String name : namesArray) { System.out.println(name); } Collections.reverse(names); namesArray = names.toArray(new String[0]); List namesList = Arrays.asList(namesArray); System.out.println(“\nList from Array:”); for (String name : namesList) { System.out.println(name); } }} Step 2: Determine the output Write the output of the program, as the user would see it, if this were executed in IntelliJ. You will need the following background information on the binary search presented in the code: java.util.Collections.binarySearch() is a method that returns the position of an object in a sorted list. If the object is not present, it returns the value (-(insertion point)-1), where the insertion point is defined as the point at which the object *would* be inserted into the list, if it actually existed. Step 3: Compare and Contrast Describe the difference between the Collections class and the Collection interface. Your response should indicate the difference between a class and an interface, and reference snippets from the code above to explain how the Collections class and Collection interface were used in this code.
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