Shanise has the following utility function: U(X.Y) = X+Y where X is her consumption of candy bars, with price Px = $2.25, and Y is her consumption of espressos, with Py = $6.50. Derive Shanise's demand for candy bars and espresso. Shanise's demand of candy bars and espressos is O A. X= 1.0021 and Y = 0.5231. O B. X= 0.3301 and Y = 0.0401. O C. X=0.2461 and Y = 0.040I. O D. X= 0.8331 and Y = 0.6831. O E. X= 0.0611 and Y =0.5231. Assume that Shanise's income is I= $75. How many candy bars and how many espressos will Shanise consume? Shanise will consume candy bars and espressos. (Enter your responses rounded to two decimal places.) What is the marginal utility of income? The marginal utility of income is. (Enter your response rounded to two decimal places.)
Shanise has the following utility function: U(X.Y) = X+Y where X is her consumption of candy bars, with price Px = $2.25, and Y is her consumption of espressos, with Py = $6.50. Derive Shanise's demand for candy bars and espresso. Shanise's demand of candy bars and espressos is O A. X= 1.0021 and Y = 0.5231. O B. X= 0.3301 and Y = 0.0401. O C. X=0.2461 and Y = 0.040I. O D. X= 0.8331 and Y = 0.6831. O E. X= 0.0611 and Y =0.5231. Assume that Shanise's income is I= $75. How many candy bars and how many espressos will Shanise consume? Shanise will consume candy bars and espressos. (Enter your responses rounded to two decimal places.) What is the marginal utility of income? The marginal utility of income is. (Enter your response rounded to two decimal places.)
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter3: Supply And Demand: Theory
Section: Chapter Questions
Problem 22QP
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