7. Kendal has the utility function U(x,x,)=4x +x,. If Kendal were initially consuming25 units of nuts and 18 units of berries, then what is the largest number of berries that hewould be willing to give up in return for an additional 11 units of nuts?1/2a) 6b) 24c) 4d) 21 5. AhaspreferencesrepresentedbytheutilityfunctionconsumerU(x,x2) =10(x+2x,x2 +x-50. For this consumer, goods 1 and 2 are perfect%3Dsubstitutes.6. A person with the utility function U(x,x,) =min(x +2x,,2x +x,) has convex, but notstrictly convex preferences.%3D

since you have asked multiple questions and according to our policy we can only solve the first…

7. Kendal has the utility function U(x,x2)=4x +x2. If Kendal were initially consuming 25 units of nuts and 18 units of berries, then what is the largest number of berries that he would be willing to give up in return for an additional 11 units of nuts? 1/2 a) b) 24 c) 4 d) 2 e) 1

7. Kendal has the utility function U(x,x2)=4x +x2. If Kendal were initially consuming 25 units of nuts and 18 units of berries, then what is the largest number of berries that he would be willing to give up in return for an additional 11 units of nuts? 1/2 a) b) 24 c) 4 d) 2 e) 1

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

100%

7. Kendal has the utility function U(x,x,)=4x +x,. If Kendal were initially consuming
25 units of nuts and 18 units of berries, then what is the largest number of berries that he
would be willing to give up in return for an additional 11 units of nuts?
1/2
a) 6
b) 24
c) 4
d) 2
1

5. A
has
preferences
represented
by
the
utility
function
consumer
U(x,x2) =10(x
+2x,x2 +x-50. For this consumer, goods 1 and 2 are perfect
%3D
substitutes.
6. A person with the utility function U(x,x,) =min(x +2x,,2x +x,) has convex, but not
strictly convex preferences.
%3D

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