a) Express Nehir's preferences for brownie and ice-cream graphically. b) Express Nehir's preferences for brownie and ice-cream using a utility function. c) How many portions of brownie and spoons of ice-cream does Nehir consume to maximize his utility? Show your work mathematically and graphically.
a) Express Nehir's preferences for brownie and ice-cream graphically. b) Express Nehir's preferences for brownie and ice-cream using a utility function. c) How many portions of brownie and spoons of ice-cream does Nehir consume to maximize his utility? Show your work mathematically and graphically.
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter6: Consumer Choice And Demand
Section: Chapter Questions
Problem 8QFR
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Nehir consumes brownie and ice-cream but only in the fixed ratio of two spoons of ice-cream to one portion of brownie. At any other ratio, the excess goods are useless to her. The cost of a portion of brownie is $10 and the cost of a spoon of ice-cream is $10. Nehir’s income is $300.
a) Express Nehir's preferences for brownie and ice-cream graphically.
b) Express Nehir's preferences for brownie and ice-cream using a utility function.
c) How many portions of brownie and spoons of ice-cream does Nehir consume to maximize his utility? Show your work mathematically and graphically.
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