Consumer behaviour, economics, Microeconomics

Assignment Help:
Maurice has the following utility function:
U (X; Y ) = 20X + 80Y ?? X2 ?? 2Y 2
where X is his consumption of CDs, with a price of $1, and Y is his consumption
of movie videos, with a rental price of $2. He plans to spend $41 on both forms of
entertainment. Determine the number of CDs and video rentals that will
maximize Maurice''s utility.

Related Discussions:- Consumer behaviour, economics

Determine the rule of divergence in general, Determine The Rule of Divergen...

Determine The Rule of Divergence in General Though even if attention is confined to non-communist-ruled economies there still has been huge divergence in relative output per w

Consumer''s equilibrium, using necessary and sufficient conditions explain ...

using necessary and sufficient conditions explain consumer equilibrium diagrammatically as well as mathematically

The hypothesis of rational expectations, The Hypothesis of Rational Expecta...

The Hypothesis of Rational Expectations : In the General Theory (Keynes, 1936) we noted that the state of expectations was taken as given. There was, in addition, explici

What do you meant by financialization, Q. What do you meant by Financializa...

Q. What do you meant by Financialization? Financialization: The trend under neoliberalism through that real production in the economy is accompanied by an increasing degree of

Incomes rise, Normal 0 false false false EN-IN X-NON...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Calculate the elasticity of pollution demand, 1.  The marginal benefit (dem...

1.  The marginal benefit (demand) curve for pollution for an industry is P=100-4*Q, where Q is emissions in tons.  The current emissions tax (price) for pollution is $40/ton.  Regu

Write Your Message!

Captcha
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