User Account

All Pages

Which consumption bundle represents optimal choice

Assignment Help Microeconomics
Reference no: EM132511642

George has income of $30 which he decides to spend on goods x and y. The price of x is $2 and the price of y is $4. George has utility function U(x,y) = 3x2 + 6y2. Which consumption bundle (x,y) represents his optimal choice?

Reference no: EM132511642

Questions Cloud

Discuss the meaning of money for larry : Discuss what type of rewards is/are applied in Larry's workplace - Discuss the work and none work stressors that Larry experience, and their consequences
Review your personal strengths and weaknesses : Review your personal strengths and weaknesses. In 1-2 paragraphs, how would you discuss them with a potential employer, who asks you this during an interview?
Evaluate the current compensation philosophy : Evaluate the current compensation philosophy for your organization or an organization of your choosing (from a third-person perspective).
Write behavioral objectives based on bloom taxonomy : This project will help you focus on the important concepts presented throughout the course. For this project, you will be expected to develop three lesson plans
Which consumption bundle represents optimal choice : George has utility function U(x,y) = 3x2 + 6y2. Which consumption bundle (x,y) represents his optimal choice?
Did find pinks talk surprising why or why not : How do you think managers can use this knowledge to motivate their employees? How will you use this knowledge in your own pursuits?
Write speech defending slavery : Pretend you are a pro-slavery advocate and write a speech defending slavery.
What means to be price-setter or price-taker : In your memo, be sure to first provide a brief discussion of what it means to be price-setter or price-taker. List the pros and cons of each one
How change proposal for new technology impact patient safety : In a Microsoft Word document of 4-5 pages formatted in APA style, develop a change proposal for a new technology that will contribute to a safer patient.

Reviews

Write a Review

Microeconomics Questions & Answers

  What was average income of the remainder of the population

If income were perfectly equally distributed, the poorest 20 per cent of individuals or families would receive 20 percent of the economy's total income.

  Does this production function exhibit constant returns

Does this production function exhibit constant returns to scale? Write down the production function in per

  Define the ppp level of gni

What explains the fact that Japan's purchasing power parity (PPP) level of GNI per capita is so much lower than its GNI per capita calculated at the official.

  Explain rises or falls in short-term interest rates

Suppose you were the manager of a bank that raised most of its funds from short- term variable-rate deposits and used these funds to make fixed-rate mortgage loans. Should you be more concerned about rises or falls in short-term interest rates? ..

  Calculate total costs for annual output

Suppose that your computers were not working and you had to solve the following problem for management by creating and explaining a data table.

  What items would you use from the textbook and other sources

Throughout this course various elements have been discussed/offered. What items would you use from the textbook and other sources to make a persuasive argument?

  Determine the payment amount and the total finance charge

Cranford Cranberry Bogs just purchased new water- whipping equipment for $100,000. Cranford agreed to repay the loan over a period of 10 years with semi- annual payments. The loan's interest rate is 8%. Determine the payment amount and the total f..

  A firm is making a long-run planning decision

A firm is making a long-run planning decision. It wants to decide on the optimal size of plant and labor force. It is considering building a medium-sized plant and hiring 100 workers.

  Describe how the values and ethics affect others outside of

as a manager you have influence over your coworkers. this influence affects the employees work life and family life.

  External benefits of substance abuse treatment

About two-thirds of funding for substance abuse treatment comes from taxpayers. Are there external benefits of substance abuse treatment that warrant this level of public funding?

  Creating long lines of eager customers at stores

If a technology company introduces a new gadget to the market which creates long lines of eager customers at stores, what is true about this market?

  Is the company very risk averse

Consider the mathematical utility function U = 7.1 1y , where U is the utility value corresponding to monetary outcome y. Check that this function is an accurate description of the pharmaceutical company's attitude toward risk. Is the company very..

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