Happiness-maximizing combination of wine and roses costing

Assignment Help Microeconomics
Reference no: EM13693875

Happiness can be produced with wine and roses according to Q = W1/2R1/4, where W is bottles of wine and R is bouquets of roses obtained per month. If wine costs $20 per bottle and roses cost $60 per dozen, the happiness-maximizing combination of wine and roses costing $360 in total is:

Reference no: EM13693875

Questions Cloud

Monopolistically competitive firm selling DVDs : Consider the following graph of a monopolistically competitive firm selling DVDs. How many DVDs should be sold to rent per day to maximize profit? Briefly explain your answer.
How elastic-inelastic is the demand for netflix services : How elastic/inelastic is the demand for Netflix services (at the time of the price change)? What are the primary factors that determine elasticity of demand for Netflix? Do you think that their plan to increase prices was a good idea? How has Netflix..
What is the growth rate of its debt : Suppose that a government has an initial debt of $5 trillion and that the nominal interest rate is 5%.
Annual interest rate : Your mortgage requires that you pay $12,000 at the end of each of the next 25 years. if the annual interest rate is 25 percent, then you must have borrowed approximately
Happiness-maximizing combination of wine and roses costing : Happiness can be produced with wine and roses according to Q = W1/2R1/4, where W is bottles of wine and R is bouquets of roses obtained per month. If wine costs $20 per bottle and roses cost $60 per dozen, the happiness-maximizing combination of wine..
If rice can be produced using water and seed according : If rice can be produced using water and seed according to Q = WS, where water, W, costs $3 and seed, S, costs $3, what is the cost minimizing combination of water and seed capable of producing 144 units of rice?
What will the firms profit-maximizing quantity be : Suppose a firm in a perfectly competitive industry has a short run total cost function given by TC=1100+0.02Q^2 and a marginal cost given by MC=0.04Q. If the market price is 12, what will the firm’s profit-maximizing quantity be?
Economic implications of increasing government spending : The Future 2055 The U.S. economy is at full employment. President North West is spending billions of dollars on military equipment in the U.S. He is also attempting to carry out his promise to put a man on Mars by the end of the decade. He is conside..
Financial recession : Financial Recession: There has been a rise in mortgage defaults leading to an increase in the risk premium in the economy. (increase f).

Reviews

Write a Review

Microeconomics Questions & Answers

  From criteria that influence the rate of adoption in what

from criteria that influence the rate of adoption in what area do apple product excel and what area does apple product

  Give the example of a time when you were consuming good

provide an example of a time when you were consuming a good. were you attempting to maximize your marginal or total

  Show on the supply-and-demand diagram and describe in words

show on a supply-and-demand diagram and explain in words what will happen to the canadian exchange rate compared to the

  You need to responses to this questions about acawhat

you need to responses to this questions about acawhat provisions of aca are intended to reduce or increase directly the

  What is the total amount of output the firm

What is the TOTAL amount of output the firm should produce and approximately how much output should the firm allocate to market 1?

  Determine the best possible way to account for inflation

Determine the best possible way to account for inflation when considering where to invest your money. Provide specific examples to support your response

  Private practice needs a van to carry crew and equipment

A construction manager just starting in private practice needs a van to carry crew and equipment. She can lease a used van for $2,654 per year, paid at the beginning of each year, in which case maintenance is provide. Alternatively, she can buy a use..

  What do problems with measurement of gross domestic product

what do the problems with the measurement of the gross domestic product gdp consumer price index cpi and unemployment

  Affects on the costs of the forest service incurs

Lightweight personal locator beacons are now available to hikers that make it easier for the Forest Service's rescue teams to locate those lost or in trouble in the wilderness.

  Should company continue regular operations halt operations

your company is currently engaged in business activities both nationally and internationally. a country you are

  The labor market and minimum wage

The Labor Market and Minimum Wage

  Cost of production is fixed in the short run

For many corporations, a major portion of the cost of production is fixed in the short run. Should these very large fixed costs be ignored when the executives are making output and pricing decisions?

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