Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Economics


Home >> Microeconomics

Maurice has the following utility function:
U (X; Y ) = 20X + 80Y ?? X2 ?? 2Y 2
where X is his consumption of CDs, with a price of $1, and Y is his consumption
of movie videos, with a rental price of $2. He plans to spend $41 on both forms of
entertainment. Determine the number of CDs and video rentals that will
maximize Maurice''s utility.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9503469

Have any Question?


Related Questions in Microeconomics

Question 2a suppose that a restaurant offering ethiopian

Question: 2a) Suppose that a restaurant offering Ethiopian cuisine opened in Cambridge Ma. and became a great success. What would you predict would happen in the greater Boston restaurant market? 2b) Draw a graph illustr ...

Question draw a graph of the us automobile market in which

Question: Draw a graph of the U.S automobile market in which the domestic equilibrium price without trade is Pd and the and the equilibrium quantity is Qd. Use this graph to illustrate and explain the effects of a tariff ...

Question an auto manufacturer gives franchised dealers

Question: An auto manufacturer gives franchised dealers exclusive service territories, and the law allows dealers to set prices as they wish. Why might you expect the dealer and manufacturer to disagree about the price t ...

Question in 1914 henry ford increased the wage he paid

Question: In 1914, Henry Ford increased the wage he paid workers in his car factory in Dearborn, Michigan to $5 per day. This wage was more than twice as much as other car manufacturers were paying. Ford was quoted as sa ...

Question the theory of comparative advantage may be applied

Question: The theory of comparative advantage may be applied to a country's output. Although natural resources within a country may often provide the best opportunity for comparative advantage, certain countries are able ...

Question the directors of ace airlines have decided to

Question: The directors of Ace Airlines have decided to incentivize their 1,000 employees by issuing every one of them 200 shares of stock. (Assume there is no problem of equity dilution, because the company has 40 milli ...

Question labor migration may be considered an investment in

Question: Labor Migration may be considered an investment in human capital. A. Identify and detail three costs and benefits of labor migration. B. Use the analytical framework of human capital investment to explain the m ...

Question as advances in technology make the

Question: As advances in technology make the self-registration of guests more easily achievable, some hotel companies have moved aggressively tom implement such technologies. Those who have not done so , however, point o ...

Question what is the maximum amount you would be willing to

Question: What is the maximum amount you would be willing to lend someone if they promise to give you $1000 per month for 52 months and your MARR is 12%? The response must be typed, single spaced, must be in times new ro ...

Question - suppose there is a relationship between park

Question - Suppose there is a relationship between park land and timber extraction of the following sort: Park Land (00 acres) 20, 18, 14, 8, 0 Timber ($) (000) 0, 1, 2, 3, 4 Draw the PPC between park land and timber ext ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved