FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Clara's utility function is U ( x , y )=( x +2)( y +1). If her marginal rate of substitution is-4 and she is consuming

  1. Clara's utility function isU(x,y)=(x+2)(y+1). If her marginal rate of substitution is-4 and she is consuming 14 units of goodx, how many units of goodymust she be consuming?

a. 9

b. 30

c. 68

d. 63

e. 18

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Health Care Management

Introduction To Health Care Management

Authors: Sharon B. Buchbinder, Nancy H. Shanks

3rd Edition

128408101X, 9781284081015

Students also viewed these Economics questions

Question

★★★★★
What is family planning? Is family planning effective in reducing fertility rates?

Answered: 1 week ago

Question

★★★★★
Stress Log Keep a stress log for one week. Monitor your stress level and write down the stressors (and hassles) in your life. Then pick a calm moment to evaluate your list. Are there any stressors or...

Answered: 1 week ago

Question

★★★★★
The following network shows the major roads that would be part of the hurricane evacuation routes for Charleston, South Carolina: The destination is the interchange of Interstate 26 and Interstate...

Answered: 1 week ago

Question

★★★★★
Pigot Corporation utiliza costos de trabajo y tiene dos departamentos de produccin, M y A. Los costos de fabricacin presupuestados para el ao son los siguientes: Departamento M Departamento A...

Answered: 1 week ago

Question

★★★★★
The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash $ 23,000 Accounts receivable, net 170,000...

Answered: 1 week ago

Question

★★★★★
Suppose that Viacom and QVC made tender offers to the Paramount shareholders, rather than offering a merger. On March 1 , 1 , Viacom offered to pay $ 7 5 7 5 per Paramount share. On March 5 , 5 , QVC...

Answered: 1 week ago

Question

★★★★★
A plant makes monthly shipments of electric drills to a wholesaler in average lot sizes of 280 drills. The wholesaler's average demand is 70 drills a week, and the lead time from the plant is 3...

Answered: 1 week ago

Question

★★★★★
Paco, Inc. is considering obtaining funding through advances against receivables. The total annual credit sales are $1,200,000, the terms are net/30 days, and the payment is made on the average of 30...

Answered: 1 week ago

Question

★★★★★
Question 6: Given the data below, what is the simple linear regression model that can be used to predict sales in future weeks? You have the following regression equation: Yt = 143.5 + 6.3x

Answered: 1 week ago

Question

★★★★★
1. What is P(A=a2,B=b2) P(A=a2,B=b2)? 2. Observing events from this probability distribution, what is the probability of seeing (a1, b1) then (a2, b2)? 3. Calculate the marginal probability...

Answered: 1 week ago

Previous Question Next Question