How should the food be allocated without letting person

Assignment Help Econometrics
Reference no: EM13201996

2 Persons are left with 200 lbs of food. They each have a utility-level expressed by

\(U_{1}(F_{1})=\sqrt{F_1}\) and \(U_{2}(F_{2})=1/2\sqrt{F_2}\)

The amount of food they each consume is defined by \(F_{i}\)

1) How should the food be allocated in order for the persons to have the same use/utility

2) How should the food be allocated if they want to maximise their use/utility

3) If person no. 2 needs a utilitylevel of at least 5 to survive, how should the food be allocated if they still want to maximise their use, without letting person no. 2 die?

Reference no: EM13201996

Questions Cloud

Is it beneficial for the company to do the campaign : Assume that a monopolist considering to spend 500.000 usd on large campaign to promote the their products.The demand curves are defined by p = 150 - 3q, where q is the output-quantity in 1000-usd. By executing the campaign the firm expects the new de..
Maghreb relations : Do you have a copy of King Mohammeds thesis "EEC - Maghreb Relations" from the French University of Nice Sophia Antipolis
Find the dimensions of a rectangular box with square ends : A parcel delivery service will deliver a package only if the length plus girth does not exceed 108 inches.
Controlling aspect of a strategic plan : What are examples of regulatory issues that affect the controlling aspect of a strategic plan? What are examples of organizations that have failed to comply with regulatory requirements in controlling their strategic plans?
How should the food be allocated without letting person : How should the food be allocated if they want to maximise their use/utility If person no. 2 needs a utilitylevel of at least 5 to survive, how should the food be allocated if they still want to maximise their use, without letting person no. 2 die.
Find the rate of change of the distance from the particle : A particle is moving along the curve y=42x+5 . As the particle passes through the point (212), its x-coordinate increases at a rate of 4 units per second. Find the rate of change of the distance from the particle to the origin at this instant.
What overall dimensions will minimize the amount : You are designing a rectangular poster to contain 128 in2 of printing with a 4 inch margin at the top and bottom and a 2 inch margin at each side. What overall dimensions will minimize the amount of paper used?
What is the new height : the height of a trapezoid of constant area varies inversly as the sum of the lengths of the bases. If the height is 30 cm when the lengths of the two bases are 3 cm and 16 cm, what is the new height if the bases are 24 cm and 48 cm in length?
Express the hydrostatic force against one side of the plate : Express the hydrostatic force against one side of the plate as an integral and evaluate it. (Give your answer correct to the nearest whole number.)

Reviews

Write a Review

Econometrics Questions & Answers

  What would you expect to earn after your raise

Suppose you are currently earning $15 an hour. If the inflation rate over the current year is 10 percent and your firm provides a cost-of-living raise based on the rate of inflation, what would you expect to earn after your raise? If the cost-of..

  What is his average tax rate in percentage

The income tax system in a country requires each citizen to pay 10% of income on earnings up to $40,000, and then pay 20% on any earnings over $40,000. If an individual has an income of $92350, then what is his average tax rate, in percentage term..

  What can you do to boost profits

This is, in part due to the fact that the company spent 1.2 billion developing the drug and obtaining FDA approval. An economist has estimated that, at the current price of $1.25 per pill, the own price elasticity of demand for the drug is -2.5.

  Regression equation for determining market value of houses

Following is a multiple regression in which dependent variable is market value of houses and independent variables are the age of the house and square footage of the house.

  What if the before-tax cash flow for each year for 10 years

A compnay places a system for $3000000.00. It is expected to last 30 years with a salvage value of $250000.00. It will increase net income by $500000.00 in the first year, increasing 2.4% each year thereafter. The tax rate is 40%, and after tax MA..

  How to maximize utility with a budget constraint

What combination of the two goods below allows you to maximize your utility with a budget constraint of $14? Show how you arrived at your conclusion in the space provided below. Place your final answers on the lines at the bottom of this page. ..

  What happens to output if transfers are increased by 100

This question considers a closed economy Keynesian model that is augmented to include transfers payments to consumers (Tr = Transfers) that increase consumers' disposable incomes and lower government savings. a) Suppose you had the following c..

  What is the sample standard deviation of weights

What is the sample standard deviation of weights and calculate the change in weight

  What shape will isoquants have for the production function

Suppose the number of points on an economics midterm (P) can be characterized by the following production function: P = 10H-4B where H is the number of hours spend studying and B is the number of beers in the week prior to the midterm.

  Does the merger lead to higher or lower cournot equilibrium

Suppose that P = 400 - 20Q and that there are 3 firms, each with a marginal cost of 30. Suppose that firms 2 and 3 merge. The merger allows the combined firm to lower its marginal cost to 20. Does the merger lead to a higher or a lower cournot equ..

  Determine what is minimum salvage value

A new chemical remediation tank is needed. Current technology tanks, which costs $150,000, MUST BE DRAINED AND TREATED EVERY TWO YEARS AT A COST OF $30,000; THE TANKS WILL LAST TEN YEARS, AND EACH WILL HAVE A SALVAGE VALUE OF 5%. OF FIRST COST.

  Increases in real gdp per capita

Economic growth, as examined through raise in real GDP per capita, is a target for most countries. This is often interpreted as an raise in economic welfare for citizens.

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