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

Market-friendly reforms, Market-Friendly Reforms: One main shortcoming...

Market-Friendly Reforms: One main shortcoming of present development cooperation is that recipients of development cooperation is that recipients of development finance are d

Silicon properties, What are the chemical properties of silicon?

What are the chemical properties of silicon?

PPC and Opportunity Costs, Hi, I am taking an economics course. I have a p...

Hi, I am taking an economics course. I have a problem where I am given 2 types of units with the same production rate and the labor used to produce those units. I am supposed to c

Exchange, three marginal conditions of pareto optimality

three marginal conditions of pareto optimality

Explain how the price system eliminates a surplus, Explain how the price sy...

Explain how the price system eliminates a surplus. The meaning of surplus is that quantity demanded is less as compared to the quantity supplied.  This will lead to downward pr

Frictional and cyclical unemployment, Frictional and Cyclical Unemployment:...

Frictional and Cyclical Unemployment: Frictional Unemployment: It refers to unemployment caused by changes in individual labour markets. This is the type of unemploymen

Monopoly, what is the total cost if the price of 10,quantity demanded is 9...

what is the total cost if the price of 10,quantity demanded is 900000, at $20 it is 800000? The author is paid 2 million dollars to write a book, the marginal cost of publishing t

Properties of isoquants, 1. Isoquants are negatively sloped because if...

1. Isoquants are negatively sloped because if the quantity of factor 1 used in production is decreased then the quantity of the other factor must be increased to produce the s

Slope of isoquent, Where the equation of isoquent drived from?

Where the equation of isoquent drived from?

Demand and Supply, #questDuring the 1990s, technological advance reduced th...

#questDuring the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in ter

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