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Amazon.com sells the same brand of dog food in 50lb bags and 30lb bags. Let q1 be the number of 50lb bags and q2 be the number of 30lb bags consumed. What is the utility function representing the preferences and marginal rate of substitution of someone who only cares about the overall quantity of dog food they consume? The utiltiy function U(q1,92) = OA. 50q₁ 3092 B. 30q1.5092 C. 50q1 + OD. 30q₁ +5092 The MRS is OA. -3/5 B. -1 C. -0.5 OD. -5/3 3092 If the respective prices are p1=60 and p2=40, and the consumer has $240 to spend on dogfood, what is the optimal bundle? A. 9₁ 292 = 0 OB. 9₁ 492 = 0 OC. 9₁ 492 = 2 D. 91 = 492 = 6

Amazon.com sells the same brand of dog food in 50lb bags and 30lb bags. Let q1 be the number of 50lb bags and q2 be the number of 30lb bags consumed. What is the utility function representing the preferences and marginal rate of substitution of someone who only cares about the overall quantity of dog food they consume? The utiltiy function U(q1,92) = OA. 50q₁ 3092 B. 30q1.5092 C. 50q1 + OD. 30q₁ +5092 The MRS is OA. -3/5 B. -1 C. -0.5 OD. -5/3 3092 If the respective prices are p1=60 and p2=40, and the consumer has $240 to spend on dogfood, what is the optimal bundle? A. 9₁ 292 = 0 OB. 9₁ 492 = 0 OC. 9₁ 492 = 2 D. 91 = 492 = 6

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Amazon.com sells the same brand of dog food in 50lb bags and 30lb bags. Let q1 be the number of 50lb bags and q2 be the number of 30lb bags consumed. What is the utility function representing the preferences and marginal rate of substitution of someone who only cares about the overall quantity of dog food they consume? The utiltiy function U(q1,92) = OA. 50q₁ 3092 B. 30q1.5092 C. 50q1 OD. 30q₁ +5092 The MRS is OA. -3/5 B. -1 C. -0.5 OD. -5/3 + 3092 If the respective prices are p1=60 and p2=40, and the consumer has $240 to spend on dogfood, what is the optimal bundle? A. 9₁ 292 = 0 OB. 9₁ 492 = 0 OC. 9₁ 492 = 2 OD. 9₁ 492 = 6
Transcribed Image Text:Amazon.com sells the same brand of dog food in 50lb bags and 30lb bags. Let q1 be the number of 50lb bags and q2 be the number of 30lb bags consumed. What is the utility function representing the preferences and marginal rate of substitution of someone who only cares about the overall quantity of dog food they consume? The utiltiy function U(q1,92) = OA. 50q₁ 3092 B. 30q1.5092 C. 50q1 OD. 30q₁ +5092 The MRS is OA. -3/5 B. -1 C. -0.5 OD. -5/3 + 3092 If the respective prices are p1=60 and p2=40, and the consumer has $240 to spend on dogfood, what is the optimal bundle? A. 9₁ 292 = 0 OB. 9₁ 492 = 0 OC. 9₁ 492 = 2 OD. 9₁ 492 = 6
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