How much goods x and y should hani purchase to maximize

Assignment Help Microeconomics
Reference no: EM133526145

Question: Hani consumes goods X and Y according to the utility function ??(??, ??) = XY^3 . If the price of good X is $15 and the price of good Y is $9, and his income is $180. How much goods X and Y should Hani purchase to maximize utility?

Reference no: EM133526145

Questions Cloud

Benefits of cross-functional sourcing teams : understanding of the P2P process and the benefits of cross-functional sourcing teams, recommend the composition of the team (team members/ departments)
What is the self physical : Is the Self physical, mental or spiritual and why? Or is it some combination? That is the metaphysical stance.
How were stakeholders engaged : How were stakeholders engaged? Did the Council identify the tasks to be performed and the individuals or units with responsibility for the tasks?
Description of the customer relationship management system : Provide a description of the Customer relationship management system (include modules available and function, system requirements, and cost of implementation)
How much goods x and y should hani purchase to maximize : Hani consumes goods X and Y according to the utility function ??(??, ??) = XY^3 . If the price of good X is $15 and the price of good Y is $9, and his income
Working for a local distributor of various electronic : working for a local distributor of various electronic devices, as a logistician. Your role to create, modify and supervise the movement of local and internation
How do you see affecting authorization of medical devices : Based on your research, what are the biggest differences, and how do you see this affecting the authorization of medical devices in the EU.
Think of a product or a brand : Think of a product or a brand you're familiar with that caters to a niche market. Describe the shared characteristics of consumers in that market in terms
List the specific costs of starting your own business : List the specific costs of starting your own business. Identify which costs are accounting costs and which costs are opportunity costs.

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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