Goods where the price of apples is always

Assignment Help Business Economics

Reference no: EM1311858

Q. Consider a consumer with $10 to spend on these 2 goods where the price of apples is always $2 every.

Apples Oranges
Q U Q U
1 50 1 30
2 75 2 56
3 85 3 78
4 90 4 96
5 92 5 108
6 93 6 116

a) Find the utility maximizing combination of apples also oranges if oranges cost $4 every. Elucidate why the consumer didn't choose the bundle of 3 apples also 4 oranges.

b) Repeat all of part (a) if oranges cost $1 every.

Reference no: EM1311858

Questions Cloud

Professional sports players are generally paid : Professional sports players are generally paid much more than farmers, factory workers, engineers also teachers.

What is the acceleration due to gravity : A uniform solid sphere of radius 0.503 m and mass 15.7 kg turns counter clockwise (when viewed from above) about the vertical axis through its center. Find its vector angular momentum when its angular speed is 3.08 rad/s. Wouldn't you use the formula..

Impact on net income due to changes in prices : Impact on Net Income due to changes in prices - If the plugs are purchased and the facility rented, Mennekes Company wishes to realize $100,000 in savings annually. To achieve this goal, what must be the minimum annual rent on the facility?

Decrease and increase production : For a perfectly competitive firm the price is $2 per unit. At this price the firm is producing and selling 10,000 units. It costs $1.50 to produce the last unit. Should the firm produce more? Less? Why?

Goods where the price of apples is always : Consider a consumer with $10 to spend on these 2 goods where the price of apples is always $2 every.

Computation of net income and operating cash flows : Computation of Net Income and Operating cash Flows and What is the depreciation tax shield

Evaluate the amount of manufacturing overhead costs : For Fox Manufacturing, determine the annual manufacturing overhead cost-allocation rate and evaluate the amount of manufacturing overhead costs allocated to the Maize High School job.

Approximation the structure''s rotational speed at impact : If it started falling from an upright position, what was the initial angular acceleration of the structure? suppose that the bottom did not slide across the floor and that it did not fall out of plane; that is, during the fall, the structure remained..

Evaluate the breakeven point : Evaluate the breakeven point in batteries and determine the margin of safety, assuming sales total $60,000?

User Account

All Pages