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EleoNora [17]
3 years ago
11

A student has a monthly budget of $800. She can spend her budget on two items, X and Y. Each unit of X costs $20 and each unit o

f Y costs $10. If the student has a utility function of U = 348X + 100Y + 6X2 + 4Y2 + 2XY, what is the optimal amount of X and Y for her to consume to have the maximum utility? What is this total utility? What is the value of lambda and what does this mean?

Mathematics
1 answer:
Aleonysh [2.5K]3 years ago
3 0

Answer:

Check the explanation

Step-by-step explanation:

Total utility is the overall satisfaction that a particular consumer received from consuming a given overall quantity of a good or service, To calculate the value of total utility economists utilize the following basic total utility formula: TU = U1 + MU2 + MU3

Kindly check the attached image below to see the step by step explanation to the question above.

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Which of the following expressions is correct? Select one: a. marginal cost = (change in quantity of output)/(change in total co
Natasha_Volkova [10]

Answer:

b. average total cost = total cost/quantity of output

Step-by-step explanation:

The marginal cost is the additional cost of producing one more unit of output and it can be calculated by taking the change in total cost and dividing it by the change in quantity, its formula is:

  • <em>Marginal cost = change in total cost/ change in quantity</em>

The average total cost (sometimes referred to simply as average cost) is total cost divided by the quantity of output, its formula is:

  • <u><em>Average total cost = total cost / quantity of output</em></u>

The total cost is obtained adding together the fixed costs and the variable costs, its formula is:

  • <em>Total cost = fixed cost + variable cost</em>

The average variable cost is obtained when variable cost is divided by quantity of output, its formula is:

  • <em>Average variable = variable cost / quantity of output</em>

I hope you find this information useful and interesting! Good luck!

3 0
3 years ago
Alex, Ian, and Ric together sold 48 tickets for the school fund-raiser. Alex sold 11 tickets and Ian sold 18 tickets. How many t
eimsori [14]
To determine the number of tickets that Ric sold, subtract from the total tickets sold the sum of the number of tickets sold by Alex and Ian. This is mathematically shown as, 

                        tickets (Ric) = tickets (total) - (tickets (Alex) + tickets (Ian))

                                  tickets (Ric) = 48 - (11 + 18) = 19

Hence, Ric sold 19 tickets for the fundraising. 
8 0
3 years ago
Read 2 more answers
What is the value of q − 7 if q = −17?
sdas [7]

Answer:

-24

Step-by-step explanation:

-7 - 17 = -24.

3 0
1 year ago
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Explain why a + b = d.<br> B<br> A<br> C<br> swer
bixtya [17]

Answer:

<em>Explanation below</em>

Step-by-step explanation:

<u>Angles in a Triangle</u>

There are two basic relations of angles we need to recall:

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  • Internal angles of a triangle add up to 180°

Note a, b, and c are the internal angles of the triangle. The angle c is what is needed to a+b to complete 180°, thus:

c = 180 - ( a + b )

Also, note c and d are supplementary angles. Again, c is what is needed to d to complete 180°, thus

c = 180 - d

From the two relations above, it follows that:

a + b = d

4 0
2 years ago
A recipe requires ¾ cup of nuts for 1 batch of muffins. Write the number of batches of muffins that can be made using 7 ½ cups o
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Answer:

10 batches

Step-by-step explanation:

3/4 cups = 1 muffins

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Hence 10 batches of muffins will be made from 15/2 cups of nuts.

8 0
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