Urgent Question 1Jennifer 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) = fo.⁹ 10.1,where f and d represent quantity of food and diapers, respectively.Question 1 Part aFind Jennifer's optimal consumption bundle. Make sure to draw her budgetconstraint and indifference curves and clearly demonstrate your solution.Question 1 Part bJennifer's uncle Sam, who is aware of her financial troubles, offers to help herout. Specifically, he offers to pay half of her weekly diaper expenses. Howmany diapers Jennifer would buy now? Again, demonstrate your solution bothgraphically and analytically.

Utility function : U(f , d ) = f0.9d0.1 Price of food = 1 Price of diaper = 0.5 Weekly Budget =…

Question 1 Jennifer is a single mom with a weekly budget of $100. She can spend her weekly income on food and diapers for her son. Price of food is $1 and price of a diaper is 50 cents. Her son needs at least 5 diapers a day, therefore she must purchase at least 35 diapers weekly. Jennifer's utility function is U(f,d) = fo.9 0.1 where f and d represent quantity of food and diapers, respectively.

Question 1 Jennifer is a single mom with a weekly budget of $100. She can spend her weekly income on food and diapers for her son. Price of food is $1 and price of a diaper is 50 cents. Her son needs at least 5 diapers a day, therefore she must purchase at least 35 diapers weekly. Jennifer's utility function is U(f,d) = fo.9 0.1 where f and d represent quantity of food and diapers, respectively.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter10: Consumer Choice Theory

Section: Chapter Questions

Problem 8P

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