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- abby is a single mom with a weekly budget of $100. She can spend her weeklyincome on food and diapers for her son. Price of food is $1 and price of a diaperis 50 cents. Her son needs at least 5 diapers a day, therefore she must purchaseat least 35 diapers weekly. Jennifer’s utility function is U (f, d) = f 0.9d0.1,where f and d represent quantity of food and diapers, respectively.Question 1 Part aFind abbys optimal consumption bundle. Make sure to draw her budgetconstraint and indifference curves and clearly demonstrate your solution.economic factors thst affect healthy eatingElaborate and explain income effect in case of inferior goods.
- If MUCoffee/PCoffee > MUDonuts/PDonuts you will spend your next dollar of income on coffee you will buy 2 more coffees you will buy 2 more donuts you will spend your next dollar of income on donutsYour gym offers two classes at the same time:weightlifting and yoga. Both classes are includedin your membership and have space available.Your friend tells you he wants to work on hisstrength and take the weightlifting class, but youalways see him in yoga class. Which class giveshim more utility? How do you know this?Please give a detailed answer to the below question.Options For Fill In Blanks:higher or lowerincrease or decreaseimproves or declines