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1. Utility Morrimization: Consider a market with only one good: strawberries, which spoil quickly. You receive positive utility from consuming strawberries but if they spoil,
1. Utility Morrimization: Consider a market with only one good: strawberries, which spoil quickly. You receive positive utility from consuming strawberries but if they spoil, you receive disutility from the effort of disposing of them. Purchasing $3 strawberries gives you a utility of Mrs) = 8:33 333 (a) Suppose you have an income of m = 100. Derive your demand function for tomatoes at a price of p5: D(p5). (b) Sketch the graph of this demand function. (0) Describe the behavior modeled by this demand correspondence in your own words
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