Question
Tintin is a young Belgian reporter and an adventurer. He is currently in Shanghai, China, working on his case, The Blue Lotus, with his wire
Tintin is a young Belgian reporter and an adventurer. He is currently in Shanghai, China, working on his case, "The Blue Lotus", with his wire fox terrier, Snowy. In the midst of his busy schedule, Tintin needs to figure out what to eat for lunch. His aim is to maximize his utility/satisfaction level from consuming the meal.
Tintin has two food choices available to him: one of China's famous noodles dish, Dandanmian, and some pearl meatballs, a delicious dish from central China.
Tintin is a young and busy reporter with a healthy appetite. He needs to find out the optimal number of noodles servings and meatballs servings that will maximize his satisfaction from lunch.
Let one small bowl (i.e., one serving) of dandanmian be denoted byX1,and the price of one serving to be3Chinese yuan.
Let one serving of pearl meatballs be denoted byX2and the price of one serving to be4Chinese yuan.
Tintin has24 yuanavailable as his lunch money. His utility function is given by the following utility function; U(X1, X2) = 6X1X2.
QUESTION:
What is theslopeof Tintin'sbudgetline?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started