User Account

All Pages

Indifference curve-budget line analysis

Assignment Help Chemistry
Reference no: EM132258316

Lauren likes to have 2 bottles of sports drink (X) when she plays 3 hours of basketball (Y). Her preferences are represented by the following utility function: U(X,Y) = min(3X, 2Y). Her budget is $60, and the price of a sports drink is $2.50 and 1 hour of basketball is $10. What is Lauren's optimal choice for drinks and basketball given her budget? Illustrate her optimal choice on a graph, using indifference curve-budget line analysis. Include the value of her utility at her optimal choice in your answer.

Reference no: EM132258316

Questions Cloud

Money and monetary policy : What is the difference between contractionary and expansionary monetary policy?
Money and monetary policies : How do banks help the Federal Reserve Bank to create money?
What is the break-even price : Your firm received an RFP (request for proposal) on a wire harness from GM with fixed costs of $1 million and MC of $1 with expected sales of 1 million units.
Estimate of the proportion of voters : Compute a 99% confidence interval for the estimate of the proportion of voters who were in favor of raising sales taxes. Indicate both low-end and high-end
Indifference curve-budget line analysis : Illustrate her optimal choice on a graph, using indifference curve-budget line analysis. Include the value of her utility at her optimal choice in your answer.
Evaluate the decision to shift advertising money : Evaluate the decision to shift advertising money from ESPN.com to Google AdWords
Market demand and market supply curve for automobiles : Draw a market demand and market supply curve for automobiles and label these curves D1 and S1 respectively.
Customers by age or separate customers in time : Why would a monopolist sort customers by age or separate customers in time?
Would your demand for gas be elastic or inelastic : Would your demand for gas be elastic or inelastic? Explain.

Reviews

Write a Review

Chemistry Questions & Answers

  Steps in the mechanism for the following reaction

Show all the steps in the mechanism for the following reaction, When benzene is mixed with deuterated sulfuric acid, deuterium is slowly incorporated onto the ring. Show the mechanism for this reaction and explain how this relates the sulfonation of ..

  Prior to placing piece of metal into the graduated cylinder

This assignment inhibits chemistry Laboratory Questions.

  Write the structures of the saytzeff elimination

Write the structures of the saytzeff elimination

  Calculate ph - chemistry questions

Chemistry Questions on Calculate P H

  How many mols of hydrogen can produce

how many mols of H 2 can produce

  Analysis of corrosion mechanisms

Analysis of corrosion mechanisms and preventative measures

  Chemical and pharmaceutical science

Write an equation for the formation of an acetal from reaction of excess methanol with benzaldehyde in the presence of an acid catalyst.

  Calculate the approximate sulphur

Calculate the approximate SO 2 mass emission in lb/day.

  What is the structure - stereochemistry

What is the structure (including functional groups)? Stereochemistry (racemic or single enantiomer)?

  Design a qualitative analysis scheme

Design a qualitative analysis scheme

  What will be the resultant pressure

What will be the resultant pressure when the stopcock is opened?

  The 1h nmr spectrum

Integrals for some of the resonances in the 1H NMR spectrum are higher than they should be due to the shear number of hydrogens in this compound

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd