economics problems

\f18. Jane receives utility from days spent traveling on vacation domestically (D) and days spent traveling on vacation in a foreign country (F), as given by the utility function U (D, F) : 10DF. In addition, the price of a day spent traveling domestically is $100, the price of a day spent traveling in a foreign country is $400, and J ane's annual travel budget is $4000. a. Illustrate the indi'erence curve associated with a utility of 800 and the indifference curve associated with a utility of 1200. b. Graph J ane's budget line on the same graph. c. Can Jane afford any of the bundles that give her a utility of 800? What about a utility of 1200'? d. Find J ane's utility maximizing choice of days spent traveling domestically and days spent in a foreign country. \f353. You run a smaii business and wouid iike to predict what wiii happen to the quantity demanded For your product it" you raise your price. Whiie you do not know the exact demand curve For your Product, you do know that in the First year you charged $45 and soid 1200 units and that in the second year you charged $50 and said 1300 units. a. [F you pian to raise your price by 10 percent, what wouid be a reasonabie estimate oF what wifi happen to quantity demanded in percentage terms? b. iF you raise your price by 10 percent} wiff revenue increase or decrease? 8. Janelle and Brian each plan to spend $20,000 on the styling and gas mileage features of a new car. They can each choose all styling, all gas mileage, or some combination of the two. Janelle does not care at all about styling and wants the best gas mileage possible. Brian lilies both equally and wants to spend an equal amount on each. Using indj'erence curves and budget lines, illustrate the choice that each person will make