Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 26, 2024

Peggy has $24 per week in her entertainment budget. She splits her time between going to the movies and Yoga ckasses. Each movie cost $8

Peggy has $24 per week in her entertainment budget. She splits her time between going to the movies and Yoga ckasses. Each movie cost $8 while each yoga class cost $3. The total utility from each of these activities is below in the table. What is Peggys total utility maximizing point?

image text in transcribed

MoviesTotal Utility Yoga Classes Total Utility O O 0 1 50 40 2 94 2 68 3 135 3 84 4 170 4 96 5 195 5 106 6 114 116 8 117

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

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

International Marketing

International Marketing

Authors: Philip R Cateora

14th Edition

0073380989, 9780073380988

More Books

Students also viewed these Economics questions

Question

★★★★★

A manufacturer uses a large amount of a certain chemical. Since there are just two suppliers of this chemical, the manufacturer wishes to test whether the percentage of contaminants is the same for...

Answered: 1 week ago

Question

★★★★★

What are examples of community-based interventions that include cultural factors in the prevention or treatment of the problems examined in this chapter?

Answered: 1 week ago

Question

★★★★★

Explain early information processing models of memory and recent cognitive science models, including working memory, cognitive load theory, and individual differences in working memory.

Answered: 1 week ago

Question

★★★★★

Jane Tamlyn paid $225 to rent a carnival booth for four days. She has to decide whether to sell doughnuts or popcorn. Doughnuts cost $1.50 per dozen and can be sold for $3.00 per dozen. Popcorn will...

Answered: 1 week ago

Question

★★★★★

a Search this cours wity: Bond valuation 1 Excel Online Structured Activity: Bond valuation An investor has two bonds in her portfolio, Bond C and Bond Z. Each bond matures in 4 years, has a face...

Answered: 1 week ago

Question

★★★★★

I'm work Question 1, $4-6 (similar to) Part 1 of 5 HW Score: 0%, 0 of 7 points O Points: 0 of 1 AM 1. Compute the activity cost allocation rates for the year. (Round your answers to the nearest whole...

Answered: 1 week ago

Question

★★★★★

Indicate the incorrect statement An advocate carries out the following duties: (1) Legal opinion (2) Litigation (3) Drafts legal documents (4) Gives briefs to attorneys

Answered: 1 week ago

Question

★★★★★

The former campus of Loyang Primary School will be put to new use as part of a plan to refresh state properties, with a childcare centre slated to open in a two-storey building there. The Singapore...

Answered: 1 week ago

Question

★★★★★

. Sunkanmi Ltd., commenced work on shopping complex for Ona Ara Local Government on 1st January, 2019. The contract price is N8,100,000. As at 31st December, 2019 the following cost have been...

Answered: 1 week ago

Question

★★★★★

Question 4 Lack of diversity claim is a misconception, says Bonia KUALA LUMPUR: Netizens have reignited the issue of a lack of diversity in the workplace amid a viral TikTok clip depicting Bonia...

Answered: 1 week ago

Question

★★★★★

Compute the kurtosis (a al for a data set with a sample size of n = 6, a sample mean value of = 9.83, a sample variance of 8 2 == 14.97. =1 455.5, and E(x-2) = 3814.9.

Answered: 1 week ago

Question

★★★★★

Solve for : 14 + 1/5 ++ = 23 T You can enter your answer as an improper fraction (like 13/4), but not as a mixed number. X=

Answered: 1 week ago

Question

★★★★★

The first-hand information rule: If an event is communicated to us by someone who witnessed an event at first-hand, we will have more confidence in the information than if we were told about it by...

Answered: 1 week ago

Question

★★★★★

The background knowledge of the interpreter

Answered: 1 week ago

Question

★★★★★

The expert rule: We have more confidence in information presented by someone who is an expert in the field than by someone who is not.

Answered: 1 week ago

Previous Question Next Question