What is the number of tomatoes at the optimal consumption

Reference no: EM133390432

Question: Suppose that Darrell consumes both beer and tomatoes. His utility function is given by the following: u left parenthesis b comma t right parenthesis equals b to the power of 1 half end exponent t to the power of 2 over 3 end exponent. If the price of beer is $2, the price of a package of tomatoes is $8, and he has $56 in income, what is the number of tomatoes at the optimal consumption bundle?

Reference no: EM133390432

Questions Cloud

Address the challenge of managing the provincial government : Address the challenge of managing the provincial government budget in Alberta, from the fiscal federalism perspective, should the federal government change

Explained the creation of the earth in this way : explained the creation of the earth in this way. The Great Father of all spirits woke the Sun Mother. He told her to go to the earth, wake the spirits

Assess the suitability of the at home care investment : Within this macro rationale, does the company possess a unique differentiator - Assess the suitability of the AtHomeCare investment according to the criteria

What the pro and contra for person working and the same time : what the pro and contra for person working and the same time further of study and what the pro and contra if quiet before finish the study due to stress

What is the number of tomatoes at the optimal consumption : the price of a package of tomatoes is $8, and he has $56 in income, what is the number of tomatoes at the optimal consumption bundle

What are the two sources of financing for a corporation : What are the two sources of financing for a corporation? For a corporation, what are the different obligations between these two sources of financing

What are some ways that japanese art was influenced : What are some ways that Japanese art was influenced by the principles of Zen Buddhism? What are the features of Sesshu's ink painting that show Zen ideals?

The price of a complement increases : The price of a complement increases and Consumer income decreases and the price of a substitute increases

Describe the societal structure of the early-medieval west : The Church presented a model of good kingship from the Old Testament. What characteristics did their ideal king possess? Evaluate how well this model reflected

User Account

All Pages