User Account

All Pages

Maximizes utility subject to his budget constraint

Assignment Help Business Management
Reference no: EM131218574

Rafael has the utility function U = x · y with the marginal utilities MUx = y and MUy = x.The price of x is 2, the price of y is unknown and equal to the variable py, and his income is$40. When Rafael maximizes utility subject to his budget constraint, he purchases 5 units of y.What must be the price of y and the amount of x consumed? (Hint: solve for how his choice ofy will depend on py.)

Reference no: EM131218574

Questions Cloud

Canceling price supports for all agricultural producers : The government is considering canceling price supports for all agricultural producers. This policy will hurt the farmers whose products have a (low / high) _________ own price elasticity of demand and a (low / high) _________ price elasticity of m..
Growth of per capita income : 1) In defining development to include more than just the growth of per capita income, there is an implicit assumption that the growth of per capita income alone is not sufficient to guarantee the reduction of poverty and the growth of self-esteem.
Calculate the average quiz score : To accomplish this goal, perform the following operations on the attached Excel data: Calculate the average Quiz Score [i.e. (points earned)/(points available)] for each student and Calculate the average Lab Report Score [i.e. (points earned)/(points..
Combination of steel and aluminum : Peter owns an auto parts firm. He uses a combination of steel and aluminum to produce her auto parts. All of the following combinations will finish the task on time. Steel costs $15 per unit and the aluminum costs $50 per unit. What combination of..
Maximizes utility subject to his budget constraint : Rafael has the utility function U = x · y with the marginal utilities MUx = y and MUy = x.The price of x is 2, the price of y is unknown and equal to the variable py, and his income is$40. When Rafael maximizes utility subject to his budget constr..
Company benefits from economies of scale : A company produces 1,000 soccer balls each day, which it sells to customers for $25 each. All costs associated with production and sales total $12,500; however, if the company were to produce one additional soccer ball per day, total costs would i..
Design an active rc circuit with the transfer function : Use a frequency analysis PSpice to plot the frequency response o the transfer function magnitude s indicated Plot at least one decade above and below an corner frequency
Output after reaching diminishing returns : Indicate whether each of the following statements is true or false and give the reason (a) A firm should stop expanding output after reaching diminishing returns.
Wrtite a research paper about going to a paperless office : Wrtite a research paper about Going to a paperless office. Write a synthesis of the articles. The synthesis will be 1000-1400 words. Define a problem in your workplace or community persuasively and accurately.

Reviews

Write a Review

Business Management Questions & Answers

  Explain the breakdown of the industrial relations at honda

A description of the key factors that led to the breakdown of the industrial relations at Honda. A description of how managers contributed to the situation.

  Show the types of employee development

Which one of the four types of Employee Development do you feel is the most effective?

  Female sales representatives

You observe the following condition: "Our female sales representatives have lower customer defections than do our male sales representatives."

  Non-profit organizations - board recruitment

Non-Profit Organizations: Board Recruitment - Expalin challenges to board recruitment, and reasons why they would be challenges and how they can be addressed.

  Describe the project scope and project management plan

Describe the project scope and project management plan. Align your plan to the overall strategy that you had recommended to the senior executives.

  Elucidate the steps you conducted in completing assignment

Is beta an accurate measure of risk? Explain why or explain why not? Is the Fama-French model a better model in elucidating securities' returns? Explain why or explain why not?

  Prepare a communications policy for a company

prepare a communications policy for a company that you are familiar with or a fictitious company you create. The communications policy will map the type of communications messages

  Specified the nature of executive compensation

Specified the nature of executive compensation, please identify a credible source on the Internet as well as discuss an example of a golden parachute that has been provided to an executive over the past 15 years

  Develop to address the issues that you identify

Sizemore Enterprises is an up-and-coming consulting company. Although it has not been around as long as some of the more well-known companies, it has made a professional reputation for itself, particularly in the fields of health care and non-pro..

  What is the unionization process

What are the organization's benefits of joining a union and what is the unionization process?

  Effectively demonstrating counseling techniques and skills

Show one of strengths and limitation related to demonstrating counseling techniques and skills and explain one way a student counselor could reinforce his/her strength and address the limitation. Be specific.

  Decrease variable costs on the income statement

Which of the following can decrease variable costs on the income statement? A. Increasing automation B. Increasing automation and issuing stock

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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