Utility and constrained optimization , Microeconomics

Assignment Help:
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?

Related Discussions:- Utility and constrained optimization

Explain how a floating exchange rate works, Explain how a floating exchange...

Explain how a floating exchange rate works and the variables which affect the rate. Define a floating exchange rate as the price of a currency (in terms of another or basket of

States the amount of grain, If Kansas can formed either 400 tons of wheat o...

If Kansas can formed either 400 tons of wheat or 100 tons of corn and Nebraska can formed 300 tons of corn or 200 tons of wheat then it makes sense for the two states to specialize

Accountant, In this assignment you will apply consumer choice theory and ma...

In this assignment you will apply consumer choice theory and marginal analysis to business problems. Consider each of the following products and services: a pair of tickets to a s

Summary of educational financing, Normal 0 false false fals...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Bonds, Contribution of bonds in n economy.

Contribution of bonds in n economy.

Resource markets, Business sell to households in the resource markets, but ...

Business sell to households in the resource markets, but households sell to businesses in the product market

Explain the meaning of inflation, Problem 1: (a) Explain the meaning of...

Problem 1: (a) Explain the meaning of inflation. (b) "Inflation is always and everywhere a monetary phenomenon." Discuss this statement. (c) Briefly explain the link betw

Supply of labour, what is the influence of an increase of migrants on the m...

what is the influence of an increase of migrants on the market supply labour

Elasticity, 1. What are the uses of elasticity to the public sector and pri...

1. What are the uses of elasticity to the public sector and private sector? (20 marks)

Find out market equilibrium price and quantity , Question Suppose you w...

Question Suppose you work for the state government of California. Due to the heavy traffic jam on I-880, the state has decided to decide to construct a new highway. To fund a p

Write Your Message!

Captcha
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