Mort consumers only beer and sausages. His income is $100. Beer costs him $0.50 per can and sausages cost $1 each, where x is the number of cans of beer and y is the number of sausages he consumes per week. Mort's utility function is U(x,y)= − [(x − 50)² + (y−40)²]. What consumption bundle does he choose? a. b. C. O d. e. (52, 56) (76,80) None of them (64, 68) (58, 62)
Mort consumers only beer and sausages. His income is $100. Beer costs him $0.50 per can and sausages cost $1 each, where x is the number of cans of beer and y is the number of sausages he consumes per week. Mort's utility function is U(x,y)= − [(x − 50)² + (y−40)²]. What consumption bundle does he choose? a. b. C. O d. e. (52, 56) (76,80) None of them (64, 68) (58, 62)
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section6.A: Indifference Curve Analysis
Problem 1SQP
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![Mort consumers only beer and
sausages. His income is $100.
Beer costs him $0.50 per can and
sausages cost $1 each, where x is
the number of cans of beer and y
is the number of sausages he
consumes per week. Mort's utility
function is
U(x,y)= − [(x − 50)² + (y−40)²].
What consumption bundle does he
choose?
a.
b.
C.
O d.
e.
(52, 56)
(76,80)
None of them
(64, 68)
(58, 62)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcc75e38d-2bfd-4a1e-962e-6890913e08e0%2F31d9eb26-f794-4f0f-8e36-59ef9d274c69%2Fm5ytcsj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Mort consumers only beer and
sausages. His income is $100.
Beer costs him $0.50 per can and
sausages cost $1 each, where x is
the number of cans of beer and y
is the number of sausages he
consumes per week. Mort's utility
function is
U(x,y)= − [(x − 50)² + (y−40)²].
What consumption bundle does he
choose?
a.
b.
C.
O d.
e.
(52, 56)
(76,80)
None of them
(64, 68)
(58, 62)
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