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
What is framework in the Modern Economics? Framework in the Modern Economics: The framework is a framework which uses to deal along with daily activities and is utilized to

Question 1: i) Use a simple human capital model to explain the rationale for undertaking higher education. ii) Why do some people vary significantly in the amounts of human

Economies of Scope in the Trucking Industry * Questions: - Economies of Scope - Are large-scale, direct hauls cheaper and more profitable than individual hauls by small t

why does the quantity of salt tend to be unresponsive to changes in its price


what will be the effect on price and quantity when supply and demand changes in different directions but same magnitude?

Two firms produce a pollutant called Q. The total costs of reducing emissions of Q are as follows for Firm 1 and Firm 2, respectively: TC1=10+100Q12 TC2=20 + 50Q22. This means tha

(i). A firm's costs are 500 when output is 100. If the TC function is linear and fixed cost (FC) are 200, find the marginal cost when Q = 4, 5 and 6. (ii). The following are est

Q. What do you meant by Payroll Tax? Payroll Tax:A tax which is levied on current employment or payrolls (collected either as a fixed amount per employee or as a percentage of

Determine Optimal Price, Quantity and Economic Profit A firm has a demand function P = 200 – 5Q and cost function:  AC=MC=10 and a potential entrant has a cost function: AC=MC