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- If the marginal utility of the burger is greater than the price of the burger, we expect a rational consumer_______. Group of answer choices to spend more money on pizza. to purchase more burgers. to spend more money on beverages. to purchase less burgers.Marina 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.Solve the utility maximization problem to find H* and Z* please!
- Sarah has the following utility function: u(x, y) = 10x + 12y.A 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).True or false. Assuming utility positively depends on two goods, indifference curves can cross or intersect. True False
- . Ceja has utility function U=A2*B2 , where A equals the number of apples she eats each week, while B is the number of bananas she eats each week. Ceja has $20 to spend on fruit each week. The price of an apple is $1, while the price of a banana is $0.25. Find out the combination of Apples and Bananas that maximize Ceja’ satisfactionIf the utility function for a consumer is defined by U=f(X,Y)=3√(X^2Y), Given that the consumer's income is 900 currency units and unit price of goods X and Y are 20 and 30 currency units respectively, find the combination of X and Y which optimize the consumer satisfaction.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?