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A: Let's analyze this problem step by step:
Ann's utility function is U = q1q2/(q1 + q2). Solve for her optimal values of q1 and q2 as a function of p1, p2 and Y.
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- When utility function U(q1, q2)=min{ 34.6 q1, 17 q2} and q1= 33 and q2= 60 are given, find utility level consumer gains?Joyce consumes x1 and x2 together in fixed proportions. She always consumes 1 unit of x2 for 2 units of x1. What is the utility function that describes her preference?A consumer prefers to consume two commodities in fixed proportions. Specifically, she prefers to consume 1 unit of x2 and 4 units of x1 at the same time. Represent her utility function and find the most preferred and affordable consumption bundle for prices p1 and p2
- Assume a consumer has a utility function U(x1, x2) = x1x2 where x1, x2 represents the amount of two goods 1 and 2 consumed in a given time period, find the utility-maximizing consumption function subject to the budget constraint5x1 + 4x2 <= 50A consumer's preferences are represented by the utility function If the budget constraint is P1X1 + P2X2 = M, determine the demand functions q1(P1, P2, M) and Q2(P1, P2, M). Determine also the indirect utility function V(P1,P2,M).Utility Function: U(X,Y)=X1/2Y1/2 Budget Constraint: 2X+2Y=16 If the price of good X changes to Px=3, what is the Equivalent variation?
- For the utility function U = Qx0.68Qy(1-0.68) and the budget 103 = 10Qx + 13Qy find the CHANGE in optimal consumption of Y if the price of X increases by a factor of 1.7.utility function please solve it step by stepFor the utility function U = Qx0.46Qy(1-0.46) and the budget 100 = 11Qx + 11Qy find the CHANGE in optimal consumption of X if the price of X increases by a factor of 1.5. Please enter your response as a positive number with 1 decimal and 5/4 rounding (e.g. 1.15 = 1.2, 1.14 = 1.1).
- what is the derivative of the utility function UU = log (100-2PPii) + log(PPjj+PPdd) with respect to PPjj. Budget constaint XXii = 100 - 2PPiiMarina decides to purchase a ring made from an alloy composed exclusively of gold (G) and titanium (T). The price of gold is $60 per gram, and the price of titanium is $30 per gram. Her total budget for the ring is $600. Her utility function is given by U(G,T) =GT. Suppose the price of titanium falls to $20 per gram. At the final basket, the optimal amount of titanium is（）grams.An individual has an income of 240 and finds his satisfaction by consuming goods x1 for 2$ and x2 for 3$. It is known that the individual utility function is as follows U (x1, x2) = x1²x2³ Determine the value of x1 and x2 for maximum individual satisfaction and calculate the value of utility.
