Bundles in order to maximize his utility

Assignment Help Business Economics
Reference no: EM131004569

Consider the utility function U(x,y)=3x+6y. An agent with a budget constraint of 15x+5y=30 will choose which of the following bundles in order to maximize his utility? 1/2 unit of x and 1 unit of y 2 units of x 2/3 units of x and 4 units of y 6 units of y 1 unit of x and 3 units of y

Reference no: EM131004569

Questions Cloud

In the neo-classical model of labor-leisure : In the neo - classical model of labor - leisure choice, the representative consumer receives satisfaction from consumption of goods (C) and from the consumption of Leisure (L). Let C be the composite good with price $1 and L determines the number of ..
High energy and action orientation relational power : Based on your knowledge of Ms. Ursula Burns, which of the 12qualities (( Vision Superb, Communication skills, Self-confidence and Moral Conviction, Ability to Inspire, Trust High Risk Orientation, High Energy and Action Orientation Relational Power B..
Changes in prices of food-clothing and medical care : According to the BLS, the CPI rose 3.8% in August of this year compared to a year earlier. Food prices rose 4.6% and clothing prices were up 4.2%, while new car prices rose 3.8%, and medical care was up 3.2%. What percentage change in the CPI up unti..
Pre-season and regular-season games as bundle : Assume Al and Bob are fans of the Chubs. Their willingness to pay for Chubs’ preseason and regular-season games is noted below. Pre-Season: Al = 200 Bob = 300 Regular-Season: Al = 800 Bob = 600 If the Chubs were to sell the pre-season and regular-sea..
Bundles in order to maximize his utility : Consider the utility function U(x,y)=3x+6y. An agent with a budget constraint of 15x+5y=30 will choose which of the following bundles in order to maximize his utility? 1/2 unit of x and 1 unit of y 2 units of x 2/3 units of x and 4 units of y 6 units..
What is the largest total surplus that can be achieved : Look at the two tables below. What is the total surplus if Bob buys a unit from Carlos? If Barb buys a unit from Courtney? If Bob buys a unit from Chad? If you match up pairs of buyers and sellers so as to maximize the total surplus of all transactio..
What considerations are there besides economic factors : Argentina is considering constructing a bridge across the Rio de la Plata to connect its northern coast to the southern coast of Uruguay. Does this project provide sufficient revenues to offset its costs? What considerations are there besides economi..
Issue of competition over time presents number of problems : The issue of competition over time presents a number of problems for a firm. Based on research for this question and personal experience, what do you believe is the most effective way a firm can compete over time? Your answer should address some of t..
Write down an equation relating her savings in period : Assume Elinor works in period 1 and earns an income of 100. She is retired in period 2 and lives off her savings. She can save this period 1 income or spend it on consumption. How much will Elinor have to live on in period two if she spends NOTHING i..

Reviews

Write a Review

Business Economics Questions & Answers

  Significant number of anheuser busch employees

In 2008, the Board of Directors and shareholders of Anheuser Busch agreed to be acquired by a Belgian Brewer (InBev). Prior to the merger, InBev made many pledges to AB regarding how the company would operate after the merger, how its employees would..

  Demand p30-2qsupply p4qequilibrium priceequilibrium

demand p30-2qsupply p4qequilibrium priceequilibrium quantityown price elasticity of demand equlilbriumconsumer

  Employees responsible for bringing about particular change

A temporary group of employees responsible for bringing about a particular change is a

  What irr will be earned on the purchase of this machine

An industrial machine costing $14,000 will produce net cash savings of $5,000 per year. The machine has a five-year useful life but must be returned to the factory for major repairs after three years of operation. These repairs cost $5,000. The compa..

  Who pays the tax-graphical model with interpretation

Who pays the tax: Graphical model with interpretation? Then the mathematical model solution with interpretation: compare P1 with P2 with P1 + tax

  Q1 alpha airlines the only carrier currently offering

q1. alpha airlines the only carrier currently offering flights to and from town a heard that beta airlines was thinking

  Add-on features such as movie streaming and music streaming

A internet company has a fixed cost of $1,750,000 per month and a variable cost of $25 per month per subscriber. The company charges $45.95 per month to its internet customers. The company currently has 75,000 subscribers and proposes to raise its mo..

  Give two examples of actions taken by the administration

Give two examples of actions taken by the administration of yourcollege whose effect is to prevent specific markets from reaching equilibrium

  Government spending influences spending indirectly

Most tax payments increase as GDP increases. Government spending influences spending indirectly. A deficit nation in a fixed exchange rate system can improve its balance of ayments by increasing _____. Why do economists insist on emphasizing the diff..

  Result of the great compromise

Which of the following is the result of the "Great Compromise" between the small and large population states?

  Discuss the causes of the great depresion in terms

?Discuss the causes of the Great Depresion in terms of what you know about the economy today. Do you think another Great Depression is possible? Why or why not?

  The us currently has a trade surplus

U.S. exports as a percentage of GDP have increased, but have not nearly doubled over the last 50 years. The U.S. currently has a trade surplus. U.S. exports as a percentage of GDP have about doubled over the last 50 years. The U.S. currently has a tr..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd