How many pineapples will she consume

Assignment Help Business Economics
Reference no: EM13156419

Georgia consumes only grapefruits and pineapples. Her utility function is U(x,y)=x^2y^8, where x is the number of grapefruits consumed and y is the number of pineapples consumed. Georgia's income is $105, and the prices of grapefruits and pinapples are $1 and $3, respectively.

a) write down Georgia's budget constraint. What is the slope of the budget line?

b) What is Georgia's marginal rate of substitution at the point (x,y)?

c) How many grapefruits will she consume?

d) how many pineapples will she consume?

e) If her income increases to $120, how many grapefruits will she consume? Are grapefruits a normal or inferior good?

 

Reference no: EM13156419

Questions Cloud

What is the deadweight loss resulting from this agreement : Instead of imposinga tariff, the government reached an agreement with foreign suppliers to "voluntarily" limit the portable radios they export to 1,250 per year. What is the deadweight loss resulting from this agreement?
What is the enthalpy of the reaction : 2 mol of a compound is allowed to react in a foam coffee cup that contains 101 grams of water. the reaction caused the temperature of the water to rise from 21 to 24.7 C. What is the enthalpy of the reaction?Assume that no heat is lost to the surr..
What is the probability that michael son will have dimples : Kirk Douglas has a prominent indentation (dimple) in his chin, and so does his son Michael. Dimples are inherited as a dominant trait. If Michael's mother does not have dimples, and Michael's wife does not have dimples, what is the probability tha..
Contrast terrorism from other violent criminal acts : Compare and contrast terrorism from other violent criminal acts, and what makes the critical difference. Identify and discuss at least two tactics that local law enforcement agencies are doing to prevent terrorism.
How many pineapples will she consume : how many pineapples will she consume? If her income increases to $120, how many grapefruits will she consume? Are grapefruits a normal or inferior good?
What is phenol red used for in tissue culture work : What is phenol red used for in tissue culture work and what does a yellow color change in phenol red indicate in a tissue culture specimen?
Determine the temperature : At what temperature will a 1.3 g sample of neon gas exert a pressure of 491 torr in a 5.9 L container?
Despite the power and resources of the bourgeoisie, : Despite the power and resources of the bourgeoisie, Why does Marx believe the proletariat will ultimately triumph over the bourgeoisie, and why does he think the proletariat will usher in stage of history very different from that of the bourgeoisie?
Determining categories of crime : Name and define three of these categories of crime and provide examples of these three categories of crime - using citations from credible sources.

Reviews

Write a Review

Business Economics Questions & Answers

  Factors will contribute to the riskiness

What factors will contribute to the riskiness of these bonds.

  The midterm exam is open book

The Midterm Exam is open book, open notes. The maximum time that you can spend in the exam is three hours. If you have not clicked the Submit For Grade button by then, you will be automatically exited from the exam. In the exam environment

  Variables that affected by proposed steps

Explain how each of the following variables will be affected by proposed steps that you have identified in the first part of the discussion: money supply, interest rates, inflation rate, aggregate demand, and output. Provide support for your respo..

  Cutting the corporate income tax

Cutting the corporate income tax can potentially increase the pace of technological change resulting in the aggregate supply curve shifting to the right.

  How much influence does company have over se variables

Illustrate what variables or than cost appears or have biggest impact on demand for McDonald's products. How much influence does company have over se variables.

  Common behind their declines

What factors might these types of stores have in common behind their declines.

  Illustrate what role does macroeconomics play

Illustrate what role does Macroeconomics play in your personal financial decisions and that of your place of work or firm you are familiar with.

  Elucidate why a system of marketable polution permits leads

Elucidate why a system of marketable polution permits leads to less costly pollution abatement and a higher concentration of polluted areas tha a command - and control system.

  Show the equilibrium quantity of fish caught

Assume that average income in the world and the cost of catching fish are both equal to their initial values. Drag the vertical green line back and forth to show the equilibrium quantity of fish caught under these conditions.

  Illustrate what is the slope of the budget line if a

Assume that a consumer can buy only two goods, A and B, and has an income of $100. The price of A is $10 and the price of B is $20. Illustrate what is the slope of the budget line if A is measured horizontally and B is measured vertically.

  For what values of z does heidi accept two independent plays

For what values of Z does Heidi accept two independent plays of the bet? iii) is is possible for Heidi to reject the single bet but accept the aggregate bet?

  Describe how many days before the due date the cesarean

Describe how many days before the due date the cesarean section should be carried out so that there is no more than a 10 percent chance that the woman will go into labor before that date.

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