Please explain the utility maximizing rule for consumers if, Ask an Expert

Others

Please explain the utility maximizing rule for consumers. If you have $10, price of product A is $1, and price of product B is $2, and you bought 4 product A and 3 product B. In this situation, your total utility of 3 product A is 12, and that of 4 product A is 18, and your total utility of 2 product B is 15 and that of 3 product B is 33. Is your consumption of product A and product B maximizing your utility? If that is not, what is your recommendation?

View complete question

Homework Help/Study Tips, Others

Category:- Homework Help/Study Tips
Reference No.:- M9895862

Have any Question?Write your Review or question?

Related Questions in Homework Help/Study Tips

Question reflection paperin a reflection of 450-600 words

Question: Reflection Paper In a reflection of 450-600 words, explain how you see yourself fitting into the following IOM Future of Nursing recommendations: 1. Recommendation 4: Increase the proportion of nurses with a ba ...

Case study- reportoption 1 choose an organisation where you

Case Study- Report Option 1: Choose an organisation where you currently or have previously worked and provide a report that justifies the need for improvement of performance management, coaching and delegation across the ...

Question why do you think informed consent is necessary in

Question: Why do you think informed consent is necessary in our modern society? In your opinion, if we remove the liability (right to sue) for lack of informed consent, will that enable doctors to provide better and fast ...

Question objective after the completion of this assignment

Question: Objective: After the completion of this assignment, you will be able to: • Employ the v-lookup function to merge data from multiple spreadsheets into a single, useable worksheet • Calculate various metrics usin ...

Review of research-tested intervention Review of Research-Tested Intervention Programs:

Review of Research-Tested Intervention Programs: Dissemination and implementation is the active spreading of evidence-based program to specific audiences, using planned strategies in specified settings. In addition, theo ...

On a large wall map or globe accurately measure the

On a large wall map or globe, accurately measure the distance between the seaward edges of the continental shelves from eastern North America at North Carolina to northwestern Africa at Mauritania (20°N latitude). Determ ...

Assignment - reportplease choose landcare australia

Assignment - Report Please choose "Landcare Australia" organisation for this case study. Prepare a report that is a case study of a particular industry, agency or organisation's process of engaging Indigenous people in n ...

Software engineering methodologies assignment - formal

Software Engineering Methodologies Assignment - Formal System Specification Overview - The purpose of this assessment is to provide students with the opportunity to apply knowledge and skills developed during the semeste ...

Assignment 3 essay anxiety and attentionpart i compare and

Assignment 3: Essay: Anxiety and Attention Part I: Compare and contrast how the anxiety-performance relationship is explained by the individual zones of optimal functioning model, multidimensional anxiety theory, and cus ...

Question chose an appropriate model related to situation

Question: Chose an appropriate model related to situation specific self-confidence in athletes. Assignment 2: Critical Thinking Essay The purpose of this assignment is to demonstrate your theoretical understanding of mot ...

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

Recent Questions

Ask Homework Help/Study Tips Expert