On a given day Adam enjoys the consumption of beer (B) and wine (W) according to the function:
U(B, W) = 20B - B2 +18W -3W2
How many glasses of beer and glasses of wine does he consume during a day? How much utility does he get from this consumption? (Cost is no object to Adam)
Maximize the utility by keeping the partial derivatives equal to zero
U'B = 20 - 2B = 0 which gives B = 10
U'W = 18 - 6W = 0 which gives W = 3
Therefore we should consume 10 glasses of beer and 3 glasses of wine
Utility = 20*10-10^2+18*3-3*3^2
= 127 utils
On a given day Adam enjoys the consumption of beer (B) and wine (W) according to...
On a given day Adam enjoys the consumption of beer (B) and wine (W) according to the function: LaTeX: U\left(B,W\right)=20B-B^2+18W-3W^2U ( B , W ) = 20 B − B 2 + 18 W − 3 W 2 (5) How many glasses of beer and glasses of wine does he consume during a day? How much utility does he get from this consumption? (Cost is no object to Adam) (5) Lately, however, Adam has been advised by his doctor to...
5) On a given day Adam enjoys the consumption of beer (B) and wine (W) according to the function: U (B,W) = 20B – B2 + 18W – 3W2 1. (5) How many glasses of beer and glasses of wine does he consume during a day? How much utility does he get from this consumption? (Cost is no object to Adam) 2. (5) Lately, however, Adam has been advised by his doctor to limit the sum of glasses of wine...
5) On a given day Adam enjoys the consumption of beer (B) and wine (W) according to the function: U (B,W) = 20B – B2 + 18W – 3W2 1. (5) How many glasses of beer and glasses of wine does he consume during a day? How much utility does he get from this consumption? (Cost is no object to Adam) 2. (5) Lately, however, Adam has been advised by his doctor to limit the sum of glasses of wine...
On a given day Adam enjoys the consumption of beer (B) and wine (W) according to the function: U(B,W)=20B-B^2+18W-3W^2 a) How many glasses of beer and glasses of wine does he consume during a day? How much utility does he get from this consumption? (Cost is no object to Adam) b) Lately, however, Adam has been advised by his doctor to limit the sum of glasses of wine and glasses of beer consumed to 5. How many glasses of wine...
NEED HELP PLZ!!!!!!! 5) On a given day Adam enjoys the consumption of beer (B) and wine (W) according to the function: U (B,W) 20B – B2 + 18W – 3W2 1.(5) How many glasses of beer and glasses of wine does he consume during a day? How much utility does he get from this consumption? (Cost is no object to Adam) 2. (5) Lately, however, Adam has been advised by his doctor to limit the sum of glasses of...
Question 5 10 pts 5) On a given day Adam enjoys the consumption of beer (B) and wine (W) according to the function: U (BW) = 20B - B2 + 18W - 3W2 1. (5) How many glasses of beer and glasses of wine does he consume during a day? How much utility does he get from this consumption? (Cost is no object to Adam) 2. (5) Lately, however, Adam has been advised by his doctor to limit the sum...
Question 5 10 pts 5) On a given day Adam enjoys the consumption of beer (B) and wine (W) according to the function: U (B, W) = 20B – B2 + 18W – 3W2 1. (5) How many glasses of beer and glasses of wine does he consume during a day? How much utility does he get from this consumption? (Cost is no object to Adam) 2. (5) Lately, however, Adam has been advised by his doctor to limit the...
On a given day Adam enjoys the consumption of beer (B) and wine (W) according to the function: U ( B , W ) = 20 B − B^2 + 18 W − 3 W^2 (5) How many glasses of beer and glasses of wine does he consume during a day? How much utility does he get from this consumption? (Cost is no object to Adam) (5) Lately, however, Adam has been advised by his doctor to limit the sum...
On a given day Adam enjoys the consumption of beer (B) and wine (W) according to the function: U ( B , W ) = 20 B − B 2 + 18 W − 3 W 2 (5) How many glasses of beer and glasses of wine does he consume during a day? How much utility does he get from this consumption? (Cost is no object to Adam) (5) Lately, however, Adam has been advised by his doctor to limit...
5) On a given day Adam enjoys the consumption of beer (B) and wine (W) according to the function: U ( B , W ) = 20 B − B 2 + 18 W − 3 W 2 1. (5) How many glasses of beer and glasses of wine does he consume during a day? How much utility does he get from this consumption? (Cost is no object to Adam) 2. (5) Lately, however, Adam has been advised by his...