Utility and constrained optimization , Microeconomics

Suppose the price of books is $15, the price of movies is $5, and your income is $75. Assuming you have a desire to reach constrained optimization, how many movies will you buy? How many books will you buy? Were you able to maximize your utility?
Posted Date: 1/17/2013 1:59:47 PM | Location : United States







Related Discussions:- Utility and constrained optimization , Assignment Help, Ask Question on Utility and constrained optimization , Get Answer, Expert's Help, Utility and constrained optimization Discussions

Write discussion on Utility and constrained optimization
Your posts are moderated
Related Questions
. Crumble Corporation produces cookies. Here is the relationship between the number of workers and output (in dozens of cookies) in a given day: Workers Output Marginal Product


What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities

what is aridge line and significance in economics.

Define and explain the following economic terms: Economics, Microeconomics & Macroeconomics Positive vs.  Normative Economics Law of Diminishing Marginal Utility Opport

TREND AND STRUCTURE OF INCOME: Each sector of the economy employs natural, human and material resources and contributes to the aggregate flow of goods and services during a gi

Problem : (a) Describe the law of demand and the factors affecting demand. (b) llustrate and  Explain how demand of a commodity will change if there is a tax on that product

What is the arc cross elasticity of demand between Stop decay''s toothbrush and Decay fighter''s toothbrush? What does this indicate about the relationship between the two products

short run equilibrium of the industry

hey, I just have a question on how to apply things like ATC and AVC in a problem. im just not too sure about what happens to the quantity of a particular good when asked. this is p