- Suppose a teenager has $20 and likes both rap music (R) and country music (C) with a set of preferences so that U = CLC /ERR/2. Suppose that the tunes price of a rap music song is and the price of a country music song is. Find optimum levels of R and C. What is the greatest level of affordable utility (Use Lagrange method)? U=CA/AREA/2 Constrain = PC = 20 Applying Lagrange Method L=CA/AREA/2+
- Determine whether the following utility functions have strictly convex indifference curves (Use diagram and/or calculus). A. Uzi/2+ex./2 b. Met(xx/5, 12/2) C. +12)3
- Consider the following utility functions ((see diagram and/or calculus ). A. EX. 124 b. Uzi/xx/4 I. Find MRS. for each function it. Graph the indifference curve for 1 for each utility function
- Inventive/strict convexity, monotonic/strict monotonic) axioms. Between MRS. of (a) and (b), and comment. Ill. Check for lb. Compare Intermediate MicroEconomics By squeaky $1. 25. Suppose a student's beverage budget is $20 per week. Suppose the student simply prefers more caffeine to less and that the tea sold has exactly one-third the caffeine as the coffee. Find the students optimal bundle and the maximum utility level.
Don't use plagiarized sources. Get Your Custom Essay on
Essay On Intermediate Microeconomics
just from $13,9 / page
Remember. This is just a sample.
You can get your custom paper from our expert writers