U(movies, popcorn) = 0.1 ln movies + 0.4 ln popcorn
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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[item-four] PLEASE PROVIDE THE CORRECT AND SOLUTION. (kindly provide complete and full solution. i won't like your solution if it is incomplete or not clear enough to read.)
![Suppose you enjoy movies and bags of popcorn, and your utility
function for these two goods is:
U(movies, popcorn) = 0.1 ln movies + 0.4 ln popcorn
a. Say you consume (watch) 2 movies. Graph your total utility
function for popcorn. Number of bags of popcorn consumed
must be on the horizontal axis, and total utility on the
vertical
axis.
[Tip:
Show
for
0 ≤ popcorn ≤ 5 and set PlotRange → {0, 0.8}.]
b. Measuring movies in the horizontal axis and popcorn in the
vertical axis, graph the indifference map given utility levels
of 0.95, 1. 15, and
[Tip: Show for
1.35.
0 ≤ movies ≤ 100 and set PlotRange → {0,20}.]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa277f926-8250-4958-b518-42e6605c2cc9%2Ff94b5318-d1a2-480d-9e67-ed13d8bcea92%2Fibf0wae_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose you enjoy movies and bags of popcorn, and your utility
function for these two goods is:
U(movies, popcorn) = 0.1 ln movies + 0.4 ln popcorn
a. Say you consume (watch) 2 movies. Graph your total utility
function for popcorn. Number of bags of popcorn consumed
must be on the horizontal axis, and total utility on the
vertical
axis.
[Tip:
Show
for
0 ≤ popcorn ≤ 5 and set PlotRange → {0, 0.8}.]
b. Measuring movies in the horizontal axis and popcorn in the
vertical axis, graph the indifference map given utility levels
of 0.95, 1. 15, and
[Tip: Show for
1.35.
0 ≤ movies ≤ 100 and set PlotRange → {0,20}.]
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