Thomas has the following utility function over milkshakes (m) and smoothies (s): U(m,s)=m+3s Today, he plans on spending $100 in total on milkshakes and/or smoothies. In answering the following questions, assume that milkshakes and smoothies can be bought in both integer and non-integer amounts. How many milkshakes and how many smoothies will Thomas buy if (a) the price of a milkshake is $5 and the price of a smoothie is $10 (b) the price of a milkshake is $5 and the price of a smoothie is $15
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Thomas has the following utility function over milkshakes (m) and smoothies (s):
U(m,s)=m+3s
Today, he plans on spending $100 in total on milkshakes and/or smoothies. In answering the following questions, assume that milkshakes and smoothies can be bought in both integer and non-integer amounts.
How many milkshakes and how many smoothies will Thomas buy if
(a) the price of a milkshake is $5 and the price of a smoothie is $10
(b) the price of a milkshake is $5 and the price of a smoothie is $15
(c) the price of a milkshake is $5 and the price of a smoothie is $20
(d) the price of a milkshake is $10 and the price of a smoothie is $5
(e) the price of a milkshake is $15 and the price of a smoothie is $5
(f) the price of a milkshake is $20 and the price of a smoothie is $5
*Please find the number of milkshakes and the number of smoothies*
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