User Account

All Pages

Marginal rate of substitution for utility function

Assignment Help Business Management
Reference no: EM131224412

Jackie has the following utility function:U(D, W) = D + 2lnW Where D = aerobics DVDs and W = pairs of walking shoes.Jackie has an income of $100, the price of an aerobics DVD (PD) = $20, and the price of a pair of walking shoes (PW) = $20.

(a) Derive the equation for the marginal rate of substitution for this utility function.

(b) Solve for Jackie's optimal consumption bundle.

Reference no: EM131224412

Questions Cloud

Determine how the process might be approached differently : Imagine your manager has requested that everyone in the company take the StrengthsFinder test. Now, your manager has asked you to put together a training tool on how to best coach and develop employees in the decision making process who have varied s..
Karl marx theories of capitalism : What are the differences between Adan Smith's and Karl Marx's theories of capitalism? (The main ideas behind each of these two theories)
Product has perfectly inelastic demand : Pick one of the products. How, if at all, could consumers adjust to a rise in the product's price ? Compare the elasticity of demand for that product in the short and long run. Would it change, and of so in what way ? Decide whether you think the ..
Was there a point where more than two riders tied : Graph and write an equation in terms of x and y, showing the distance each rider travels. Let x represent time in seconds and y represent the distance in meters. Extend your graph appropriately.
Marginal rate of substitution for utility function : Jackie has the following utility function:U(D, W) = D + 2lnW Where D = aerobics DVDs and W = pairs of walking shoes.Jackie has an income of $100, the price of an aerobics DVD (PD) = $20, and the price of a pair of walking shoes (PW) = $20.
How can one protect against virus outbreaks in organization : These viruses combined have caused damages into the billions of US Dollars. How can one protect against virus outbreaks in an organization? What are the common causes of this problems? How would use address this troublesome trend?
Everywhere a monetary phenomenon : Although inflation is always and everywhere a monetary phenomenon, explain why the initial source of a hyperinflation is typically related to the fiscal policy.
Analyze the application of the given management concepts : Analyze the application of these management concepts to this place of work; the paper will not simply be a report on the five functions in general.
Calculate equilibrium constant and the binding stoichiometry : Foundations of Biomedical Science Exam. Transform the lower graph into a classical binding isotherm and plot Bound [Y] vs Free [Y] (or Bound [Y] vs log Free [Y]). Calculate the equilibrium constant and the binding stoichiometry

Reviews

Write a Review

Business Management Questions & Answers

  Train lab technicians as x-ray technicians

What steps would you take in deciding whether or not to cross train lab technicians as x-ray technicians? What are the negative and positive financial considerations in making this decision?

  Define class bankaccount to implement the basic properties

define the class bankaccount to implement the basic properties

  Describes three different types of leadership theories

The Management text book describes three different types of leadership theories: early, contingency, and contemporary.

  Identify and discuss costco''s three elements of kernel

Identify and discuss Costco's three elements of kernel in strategy. And how Costco is able to overcome the obstacles to sustain its competitive advantage

  Widget inc-s performance compare to industry leaders

How does Widget Inc's performance compare to industry leaders?

  Compute the integral

Let f be a continuous function on the interval [0, 2] which satisfies∫20f(x) dx = 5. Given this information, compute the integral ∫10f(2y) dy.Show your work and justify your answer.

  Conflict resolution - integrating theory and practicei need

conflict resolution - integrating theory and practicei need help with an annotated bibliography. my research topic is

  What is the goal of employee development

What is the relationship between employee training and employee development and are both necessary within an organization

  What is the evpi

What is the EVPI. Find the EVSIs also efficiencies for Stanton and New World. If both firms charge $5,000 which firm should be hired

  Research methodologies to use for the research project

HI6007- Identify a business research topic and Define the research questions for the identified problem or opportunity

  Question regarding the cardigan history

Camille has developed a good network among those in the fashion industry, especially the seamstresses who have been hired by well-known celebrities. One day, Camille spoke with Sonya, the owner and Lead Seamstress for Shazam Clothing Industries. S..

  Question related to organizational knowledge

Question related to Organizational Knowledge and organizational knowledge basically equivalent to the knowledge possessed by the individuals in the organization?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd