Consumer behaviour, economics, Microeconomics

Maurice has the following utility function:
U (X; Y ) = 20X + 80Y ?? X2 ?? 2Y 2
where X is his consumption of CDs, with a price of $1, and Y is his consumption
of movie videos, with a rental price of $2. He plans to spend $41 on both forms of
entertainment. Determine the number of CDs and video rentals that will
maximize Maurice''s utility.
Posted Date: 2/24/2012 12:22:35 AM | Location : United States







Related Discussions:- Consumer behaviour, economics, Assignment Help, Ask Question on Consumer behaviour, economics, Get Answer, Expert's Help, Consumer behaviour, economics Discussions

Write discussion on Consumer behaviour, economics
Your posts are moderated
Related Questions

determine if completeness and transitivity are satisfied for the following preferences defined on x=(x1,x2)and y=(y1,y2);if x>y or x=y and x2>y2,if for min{x1,x2}

determinants of demand and determinants of supply

You are a member of a problem solving group that is concerned with incidents involving losses with their information system (IS). Let us assume that IS loss events can be grouped i

preperation methods of deuterium

ENUMERATION OF WORKERS: Now, let us discuss about the sources of data in India on workers. In India, two main organisations which generate and compile data on workers are the

Shor tage A condition under that the quantity demanded for a good or service exceeds the available supply for that good or service. Shortages usually cause a rise in price

Dependence on agricultural production: Dependence on agricultural production and primary product for exports. The external sector comprises Imports and Exports, Ghana shows de

The price elasticity ( ε ) of demand for Q has been estimated at -0.5. Current consumption Q* is 70 units and market price (P*) is 0.70. a. Fit a linear demand curve to the obs

Business sell to households in the resource markets, but households sell to businesses in the product market