Business, 01.10.2019 00:00 bellavelasco

Connie has a monthly income of $ 200 that she allocates among two goods: meat and potatoes. a. suppose meat costs $ 4 per pound and potatoes $ 2 per pound. draw her budget constraint. b. suppose also that her utility function is given by the equation u( m, p) = 2m + p. what combination of meat and potatoes should she buy to maximize her utility? ( hint: meat and potatoes are perfect substitutes.) c. connie’s supermarket has a special promotion. if she buys 20 pounds of potatoes (at $2 per pound), she gets the next 10 pounds for free. this offer applies only to the first 20 pounds she buys. all potatoes in excess of the first 20 pounds (excluding bonus potatoes) are still $ 2 per pound. draw her budget constraint. d. an outbreak of potato rot raises the price of potatoes to $ 4 per pound. the supermarket ends its promotion. what does her budget constraint look like now? what combination of meat and potatoes maximizes her utility?

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 00:50

Cool beans is a locally owned coffee shop that competes with two large coffee chains, planeteuro and frothies. alicia, the owner, hired two students to count the number of customers that entered each of the coffee shops to estimate what percent of people who are interested in coffee are visiting each shop. after a week, the students found the following results: 589 visited cool beans, 839 visited planeteuro, and 1,290 visited frothies. the students were surprised that cool beans had 139 visits on monday which represented 59% of all people who visited one of the three coffee shops on mondays. how many people visited one of the three coffee shops during the week?

Answers: 2

Answer

Business, 22.06.2019 10:00

What is the difference between an "i" statement and a "you" statement? a. the "i" statement is non-confrontational b. the "you" statement is non-confrontational c. the "i" statement is argumentative d. the "you" statement is neutral in tone select the best answer from the choices provided

Answers: 1

Answer

Business, 22.06.2019 10:20

Asmartphone manufacturing company uses social media to achieve different business objectives. match each social media activity of the company to the objective it the company achieve.

Answers: 2

Answer

Business, 22.06.2019 16:30

Penelope summers received certain income benefits in 2018. she received $1,400 of state unemployment insurance benefits, $2,000 from a federal unemployment trust fund and $3,700 workers’ compensation received for an occupational injury. what amount of the compensation must penelope include in her income

Answers: 1

Answer

You know the right answer?

Connie has a monthly income of $ 200 that she allocates among two goods: meat and potatoes. a. supp...

Questions