Give the simplest definition of Economies of Scale.

What is a limitation of N-grams?

Which real-world tool is most likely to use an N-gram model?

Suppose the market demand curve is

Pierre considers soda (X) and composite good (Y) to be perfect substitutes. His income is m = $200.  Suppose his utility function is 1. If soda cost $2, how much soda does he consume? [Answer1a1] How much money does he leave for everything else? [Answer1a2] 2. If soda cost $1, how much soda does he consume? [Answer1b1] How much money does he leave for everything else? [Answer1b2] 3. if soda cost $0.5, how much soda does he consume? [Answer1c1] How much money does he leave for everything else? [Answer1c2] Instructions: if any bundle on the budget line may be chosen, please type in exactly the following – Chosen bundle can be any point on the budget line

Suppose there are 3 bundles – A, B, and C. Gregory strictly prefers bundle A to B, strictly prefers bundle B to C, but also strictly prefers bundle C to A. The assumption that is violated by this preference ordering is:

During summer, the price of cookies was $4, the price of ice cream was $1, and income was $80. During winter, the price of cookies was $15, the price of ice cream was $3, and income was $80. On a graph with cookies on the horizontal axis and ice cream on the vertical, the new budget line is

Suppose there are two goods, L and G. Lanier likes more of G and dislikes more of L. The Marginal Rate of Substitution (MRS) of Lanier’s indifference curves over L and G is:

If the production function is then there are constant returns to scale.

The demand function for mangos is given by: