Instructor-created question Jane receives utility from days spent traveling on vacation domestically (D) and days spent traveling on vacation in a foreign country (F), as given by the utility function U(D,F) 10DF. In addition, the price of a day spent traveling domestically is $100, the price of a day spent traveling in a foreign country is $400, and Jane's annual travel budget is $4000 44- 4에 An indifference curve associated with a level of utility equal to 800 and an indifference curve associated with utility of 1200 are illustrated in the figure to the right 36- 32- 28- Using the line drawing tool, graph Jane's budget line (L,). Attach the provided label. 는 24- If you are not prompted for a label, then you have used the wrong drawing tool. 20어 16- Can Jane afford any of the bundles that give her a utility of 800? U1200 12- Can Jane afford any of the utility bundles that give her a utility of 1200? 8- 4- Considering only integer-valued consumption bundles lying on the budget constraint, find Jane's utility-maximizing choice of days spent traveling domestically and days spent in a foreign country. 0- 10 11 Foreign Travel days of domestic travel anddays of foreign travel. (Enter numeric Jane maximizes satisfaction when consuming responses using integers.) Domestic Travel
Instructor-created question Jane receives utility from days spent traveling on vacation domestically (D) and days spent traveling on vacation in a foreign country (F), as given by the utility function U(D,F) 10DF. In addition, the price of a day spent traveling domestically is $100, the price of a day spent traveling in a foreign country is $400, and Jane's annual travel budget is $4000 44- 4에 An indifference curve associated with a level of utility equal to 800 and an indifference curve associated with utility of 1200 are illustrated in the figure to the right 36- 32- 28- Using the line drawing tool, graph Jane's budget line (L,). Attach the provided label. 는 24- If you are not prompted for a label, then you have used the wrong drawing tool. 20어 16- Can Jane afford any of the bundles that give her a utility of 800? U1200 12- Can Jane afford any of the utility bundles that give her a utility of 1200? 8- 4- Considering only integer-valued consumption bundles lying on the budget constraint, find Jane's utility-maximizing choice of days spent traveling domestically and days spent in a foreign country. 0- 10 11 Foreign Travel days of domestic travel anddays of foreign travel. (Enter numeric Jane maximizes satisfaction when consuming responses using integers.) Domestic Travel
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Transcribed Image Text:Instructor-created question
Jane receives utility from days spent traveling on vacation domestically (D) and days spent traveling on vacation in a
foreign country (F), as given by the utility function U(D,F) 10DF. In addition, the price of a day spent traveling domestically
is $100, the price of a day spent traveling in a foreign country is $400, and Jane's annual travel budget is $4000
44-
4에
An indifference curve associated with a level of utility equal to 800 and an indifference curve associated with utility of 1200
are illustrated in the figure to the right
36-
32-
28-
Using the line drawing tool, graph Jane's budget line (L,). Attach the provided label.
는 24-
If you are not prompted for a label, then you have used the wrong drawing tool.
20어
16-
Can Jane afford any of the bundles that give her a utility of 800?
U1200
12-
Can Jane afford any of the utility bundles that give her a utility of 1200?
8-
4-
Considering only integer-valued consumption bundles lying on the budget constraint, find Jane's utility-maximizing choice
of days spent traveling domestically and days spent in a foreign country.
0-
10 11
Foreign Travel
days of domestic travel anddays of foreign travel. (Enter numeric
Jane maximizes satisfaction when consuming
responses using integers.)
Domestic Travel
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