Find number of units of commodity

Assignment Help Other Subject
Reference no: EM133232277

Wilson's utility function is U(a,b) = 3a + 2b, where U denotes utility, a is the number of units of commodity A that Wilson consumes, and b is the number of units of commodity B that Wilson consumes. Suppose Wilson has $100 to spend on commodities A and B. Also suppose the unit price of A is $5 and the unit price of B is $10. How many units of A and how many units of B will Wilson purchase in order to maximize his utility?

Reference no: EM133232277

Questions Cloud

Different methods of legally describing real property : Briefly research personal vs real property in the chapter and closely examine the different methods of legally describing real property
Explain what happened in the graph to cause prices to fall : Explain how prices could have fallen during the pandemic for Good X if both the supply and demand curve shifted left. You do not need to attach a graph, but exp
What could you have done differently : By what criteria do you judge the right or wrong of a situation? Did you behave in the most ethical manner possible? Why or why not?
Is there demand for the product : Is there demand for the product? Can the company do it? What level of quality is appropriate? and does it make sense from an economic standpoint?
Find number of units of commodity : Wilson's utility function is U(a,b) = 3a + 2b, where U denotes utility, a is the number of units of commodity A that Wilson consumes, and b is the number of uni
What costs do households face when they migrate : What costs do households face when they migrate? What benefits are they hoping to get? (That is, what are the three principle models in migration theory?)
Explain economic forces and business cycles : Briefly research the section in the chapter pertaining to economic forces and business cycles and also review factors affecting real estate supply and demand.
Economic principles to assess up to four impacts : Please analyse one of the Victorian Government initiatives outlined and communicate your findings as if you were writing an email to your manager. In your respo
Compare medicaid plan for the state of new york and florida : Compare and contrast Medicaid plan for the state of New York and medicaid plan for the state of Florida. List similarities and differences for each.

Reviews

Write a Review

Other Subject Questions & Answers

  Cross-cultural opportunities and conflicts in canada

Short Paper on Cross-cultural Opportunities and Conflicts in Canada.

  Sociology theory questions

Sociology are very fundamental in nature. Role strain and role constraint speak about the duties and responsibilities of the roles of people in society or in a group. A short theory about Darwin and Moths is also answered.

  A book review on unfaithful angels

This review will help the reader understand the social work profession through different concepts giving the glimpse of why the social work profession might have drifted away from its original purpose of serving the poor.

  Disorder paper: schizophrenia

Schizophrenia does not really have just one single cause. It is a possibility that this disorder could be inherited but not all doctors are sure.

  Individual assignment: two models handout and rubric

Individual Assignment : Two Models Handout and Rubric,    This paper will allow you to understand and evaluate two vastly different organizational models and to effectively communicate their differences.

  Developing strategic intent for toyota

The following report includes the description about the organization, its strategies, industry analysis in which it operates and its position in the industry.

  Gasoline powered passenger vehicles

In this study, we examine how gasoline price volatility and income of the consumers impacts consumer's demand for gasoline.

  An aspect of poverty in canada

Economics thesis undergrad 4th year paper to write. it should be about 22 pages in length, literature review, economic analysis and then data or cost benefit analysis.

  Ngn customer satisfaction qos indicator for 3g services

The paper aims to highlight the global trends in countries and regions where 3G has already been introduced and propose an implementation plan to the telecom operators of developing countries.

  Prepare a power point presentation

Prepare the power point presentation for the case: Santa Fe Independent School District

  Information literacy is important in this environment

Information literacy is critically important in this contemporary environment

  Associative property of multiplication

Write a definition for associative property of multiplication.

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