ZuoTi.Pro
Question

3. Amy likes Turkey sandwiches: each turkey sandwich always consists of one piece of turkey and one bun. Amy does not eat tur

business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

A. Turkey and buns are perfect Complementary goods.

U=min (T,B)

Buns IC3 1C2 1C1 10 20 30 Turkey

B. Budget constraint

100= 3T+ 2B

X axis intercept= 100/3= 33.3

Y axis intercept= 100/2= 50

According to utility function T=B

Put this in budget constraint

100=3T+2T

T*= 100/5= 20

B*=20

Optimal bundle= 20 slices of turkey and 20 buns.

Buns -50 -30- 20- -10- 20 30 40 Turkey

If it helps kindly upvote.

0 0
Add a comment
Know the answer?
Add Answer to:
3. Amy likes Turkey sandwiches: each turkey sandwich always consists of one piece of turkey and...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Tom likes cookies (c) and milk (ml). He always takes one cup of cookies with two...

    Tom likes cookies (c) and milk (ml). He always takes one cup of cookies with two cups of milk. Both cookies and milk cost $2 per cup. Tom has $24 to spend on these two goods. Consider a price drop in milk to $1 per cup. What kind of preferences does Tom have? Illustrate the shape of his indifference curves (cookies are measured on the y-axis). Derive his demand functions for cookies and milk. Find his optimal consumption bundle before...

  • 1. (15 pts) Suppose Amy enjoys apple juice (A) and grape juice (G) according to U(A,G)...

    1. (15 pts) Suppose Amy enjoys apple juice (A) and grape juice (G) according to U(A,G) = 3A+4G. (a) (4 pts) If apple juice costs 3 cents per ounce and grape juice costs 5 cents per ounce, and Amy has 30 cents to spend on these products, how much apple juice and grape juice should she buy to maximize her utility? (b) (3 pts) Draw the graph of her indifference map and her budget constraint, and show that the utility...

  • 3.2) (10 points) Jane likes to have Tea (T) with Cookies (C). She always has 4...

    3.2) (10 points) Jane likes to have Tea (T) with Cookies (C). She always has 4 cookies for every cup of tea. 3.2a) (points) Draw 2 indifference curves that describe her preferences with Cookies (C) on the horizontal axis and Tea (T) on the vertical axis. 3.2b) (3 points) What is her utility function that would represent her preferences? • Her utility function: UCT) - 3.2c) (4 points) If the price of a cup of tea, Py = $2 and...

  • 1. Sketch indifference curves for each of the following consumers for a day’s worth of coffee...

    1. Sketch indifference curves for each of the following consumers for a day’s worth of coffee and food, and describe why the indifference curves take the shape they do. Draw the indifference curves as how they would look if the drank a range of 0 to 4 cups. a. Ron treats coffee and food as ordinary goods, but is neutral to coffee beyond 3 cups. b. For Gareth, food is always an ordinary good where more is better; however, coffee...

  • WORK WITH THE READING A. Read the article and gather information about whether advertisin or harms...

    WORK WITH THE READING A. Read the article and gather information about whether advertisin or harms us. rgredents margaree, take ve doesn't taste, e Food Advertising Tricks You Should Know Abou toothpicks, so it won't move, and are placed under the burger so that it Has this evor happened to you? You're waiking aperclaim that adver us. They teel tha the law should not be alowed they are photo toods, which same isconsumers, a down a city street and it's...

  • case study #2 donnas diabeteas Case Study #2: Donna's Diabetes For the past 2 or 3...

    case study #2 donnas diabeteas Case Study #2: Donna's Diabetes For the past 2 or 3 years, Donna has always had fasting blood sugar levels in the 100-120 mg/dl. range. When she presents in your clinic however, her fasting blood sugar is 137 mg/dL and her hemoglobin Alc is 8.3%. Donna's 24-hr recall includes: • Breakfast: English muffin with 2 t. butter, 1 slice American cheese, 1 Jimmy Dean sausage patty, 20 oz. water • Snack 1 large (4x4) brownie...

  • write a detailed summary in an organized format. It must include 3-4 key points of the...

    write a detailed summary in an organized format. It must include 3-4 key points of the controversy. Break up your summary in 3-4 paragraphs. Must include specific reasons as to why a vegetarian diet can be better and or worse than the meat heavy diets? Explain briefly using examples how reading this controversy has helped you in making better dietary choices in future? CONTROVERSY 6 Table of Contents Vegetarian and Meat-Containing Diets: What Are the Benefits and Pitfalls? Notebook LO...

  • Can anyone help me with this nutrition homework? How many Calories did Bobby consume (note that...

    Can anyone help me with this nutrition homework? How many Calories did Bobby consume (note that digestible carbohydrate includes sugar grams)? A. 2030 B. 2550 C. 2887 D. 2982 E. 3525 Based upon Bobby's Calorie intake, Bobby's Dietary Reference Intake (DRI) for fiber is _____ grams. A. 25 B. 38 C. 40.4 D. 42 E. 54.5 Bobby consumed _____ percent of his Calories from sugar, and _____ the AMDR. 4.4, met 10,met 13,met 26, did not meet 32,didnotmeet Bobby consumed...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT