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AfilCa [17]
2 years ago
6

An individual consumes products X and Y and spends $36 per time period. The prices of the two goods are $3 per unit for X and $2

per unit for Y. The consumer in this case has a utility function expressed as:
U(X,Y) = .5XY


a. Express the budget equation mathematically by plugging in the given information. Use capital letters and a single space between operators.


b. Determine the values of X and Y that will maximize utility.


c. Determine the total utility that will be generated per unit of time for this individual. (no decimals)
Business
1 answer:
vekshin12 years ago
6 0

Answer:

a) 3X + 2Y = 36

b) X = 6 , Y = 9

c) 27

Explanation:

Individual consumes : X and Y

Spends : $36 per time period

unit cost : $3 per unit for X

                 $2 per unit for Y

utility function : U( X, Y ) = .5XY

<u>A) Budget equation mathematically</u>

X* Px + Y* Py = M

3X + 2Y = 36

Px and Py = unit cost for X and Y

M = Total spent ( revenue )

<u>b) Values of X and Y that will maximize utility </u>

Maximum utility ( MRS )  = Px / Py ,

MRS = MUx / MUy

 = Y/X  = 3/2

∴ 2Y = 3X

From BC : 6X = 36 ( X = 6 plug into mathematically equation above )

∴ X = 6 , hence Y = 9

<u>c) Total utility generated per unit of time </u>

U( X,Y ) = .5XY

            = 0.5 * 6 * 9 = 27

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Answer:

D. Changing practices superficially to appear more  environmentally friendly to consumers than they  truly are.

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Greenwashing is the act of corporate companies in their attempts to convey a false impression to their customers that their products are environmentally friendly. Through this process, they provide misleading information.

Companies provide misleading information to their customers, in making the impression that their products are more environmentally friendly than other products. Thus, <u>greenwashing can be described as changing the practices of the company/ brand superficially so that they appear more environmentally friendly than they really are to customers</u>.

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3 years ago
Granval thinks a partnership will reduce his personal financial responsibility. this is true only if?
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4 0
1 year ago
11. (-/1 Points] DETAILS BRECMBC9 5.11.010.
Lisa [10]

Answer:

2190 ; 2560 ;

$778.2

Explanation:

Total worth of gasoline sold = 16003.50

Cost of regular = 3.30

Cost of premium = 3.45

Let :

premium Gallon sold = x

Regular gallon sold = 370 + x

Hence, mathematically;

(3.45*x) + (3.30 * (x + 370)) = 16003.50

3.45x + 3.30x + 1221 = 16003.50

6.75x = 16003.50 - 1221

6.75x = 14782.5

x = 14782.5 / 6.75

x = 2190

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7 0
2 years ago
A concentration ratio indicates the:
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Explanation:

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8 0
3 years ago
Each unit requires 0.25 direct labor-hours and direct laborers are paid $14.00 per hour. In addition, the variable manufacturing
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Answer:

Instructions are listed below.

Explanation:

Giving the following information:

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Direct labor per unit= 0.25*14= $3.5

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100 units

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7 0
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