Julio loves gardening. His favourite plants are tulips and hydrangeas. His utility function is ' u(t,h)= t +100h -h^2 where t is the number of tulipsin his garden and h is the number of hydrangeas in his garden. suppose he has a 500 square feet for his garden. each tulip takes up 1 square foot of space and each hydrangeas takes up 4 square feet. he gets both plants for free. If he wanted to maximize his utility, how many tulips should he plant, what about hydrangeas? b) if his yard was only 144 square feet, how many tulips would he plant? How many hydrangeas? C) In order to plant both tulips and hydrangeas, how big does his garden need to be. carfeully explain.
Julio loves gardening. His favourite plants are tulips and hydrangeas. His utility function is ' u(t,h)= t +100h -h^2 where t is the number of tulipsin his garden and h is the number of hydrangeas in his garden. suppose he has a 500 square feet for his garden. each tulip takes up 1 square foot of space and each hydrangeas takes up 4 square feet. he gets both plants for free. If he wanted to maximize his utility, how many tulips should he plant, what about hydrangeas? b) if his yard was only 144 square feet, how many tulips would he plant? How many hydrangeas? C) In order to plant both tulips and hydrangeas, how big does his garden need to be. carfeully explain.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Julio loves gardening. His favourite plants are tulips and hydrangeas. His utility function is '
u(t,h)= t +100h -h^2
where t is the number of tulipsin his garden and h is the number of hydrangeas in his garden.
suppose he has a 500 square feet for his garden. each tulip takes up 1 square foot of space and each hydrangeas takes up 4 square feet. he gets both plants for free.
If he wanted to maximize his utility, how many tulips should he plant, what about hydrangeas?
b)
if his yard was only 144 square feet, how many tulips would he plant? How many hydrangeas?
C)
In order to plant both tulips and hydrangeas, how big does his garden need to be. carfeully explain.
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