Solve all the Questions:- Harold lives on Doritos and seafood salads. The price of Doritos is 1 dollar per bag and the price of seafood salads is 2 dollars each. Harold allows himself to spend no more than 11 dollars a day on food. He also restricts his consumption to 6,500 calories per day. There are 1,500 calories in a bag of Doritos and 500 calories in a seafood salad. If he spends his entire money budget each day and consumes no more calories than his calo-rie limit, he can consume up to a.5 bag of Doritos per day but no more. b.1 bag of Doritos per day but no more. c.4 bag of seafood salad per day but no more. d.3 bag of Doritos per day but no more. Quincy lives on pretzels and seafood salads. The price of pretzels is 1 dollar per bag and the price of seafood salads is 2 dollars each. Quincy allows himself to spend no more than 14 dollars a day on food. He also restricts his consumption to 3,400 calories per day. There are 600 calories in a bag of pretzels and 200 calories in a seafood salad. If he spends his entire money budget each day and consumes no more calories than his calorie limit, he can consume up to a.5 seafood salads per day but no more. b.2 bags of pretzels per day but no more. c.5 bags of pretzels per day but no more. d.4 bags of pretzels per day but no more.

Price of Doritos = 1 Price of Seafood =2 Total Money to be spent = 11Calories in Doritos = 1500…

Answered: Harold lives on Doritos and seafood…

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter4: Utility Maximization And Choice

Section: Chapter Questions

Problem 4.2P

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Solve all the Questions:-

Harold lives on Doritos and seafood salads. The price of Doritos is 1 dollar per bag and the price of seafood salads is 2 dollars each. Harold allows himself to spend no more than 11 dollars a day on food. He also restricts his consumption to 6,500 calories per day. There are 1,500 calories in a bag of Doritos and 500 calories in a seafood salad. If he spends his entire money budget each day and consumes no more calories than his calo-rie limit, he can consume up to

	a.	5 bag of Doritos per day but no more.
	b.	1 bag of Doritos per day but no more.
	c.	4 bag of seafood salad per day but no more.
	d.	3 bag of Doritos per day but no more.

Quincy lives on pretzels and seafood salads. The price of pretzels is 1 dollar per bag and the price of seafood salads is 2 dollars each. Quincy allows himself to spend no more than 14 dollars a day on food. He also restricts his consumption to 3,400 calories per day. There are 600 calories in a bag of pretzels and 200 calories in a seafood salad. If he spends his entire money budget each day and consumes no more calories than his calorie limit, he can consume up to

	a.	5 seafood salads per day but no more.
	b.	2 bags of pretzels per day but no more.
	c.	5 bags of pretzels per day but no more.
	d.	4 bags of pretzels per day but no more.

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