ZuoTi.Pro
Question

Question 4: Ray gets utility from apricots and blueberries U(a, b) - al/3b/3 a. What are Rays Hicksian demand functions? b. If pa 4, Pb 1, how much does it cost Ray to achieve 12 utils? c. What is the maximum utility achievable with S18? Is there a way to know that without deriving the Marshallian demand functions? d. How much utility can be gotten with $36 dollars? e. What are Rays Marshallian demand functions? f. What is the derivative of Rays Marshallian demand with respect to the price of apples, a (PaPbm)? g. What is the derivative of Rays Marshallian demand with respect to in, h. Show 2 ways of deriving the derivative of Hicksian demand with respect to the price of apples (BaPm) ???Could you help me with part A of this question?

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

Homework Answers

Answer #1

4ninimie esu ibrivm MRS 2/ (2 fo) af0 P b b 2 24 8 A 0 各bL. a b 6飞 0A 18 (a t b 1.5 6 2 12 2/9 1 2 $トfrom and 70m ol 2 0 2) 2

0 0
Add a comment
Know the answer?
Add Answer to:
Could you help me with part A of this question? Question 4: Ray gets utility from...
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

  • I NEED ANSWER FOR 5-6-7-8-9 Question Kayla's utility depends on her consumption of good 1(Q1) and...

    I NEED ANSWER FOR 5-6-7-8-9 Question Kayla's utility depends on her consumption of good 1(Q1) and good 2 (Q2), and it is described by the following utility function: U(Q), Q2 ) = 27 Q7'3 Q3 Deriving Demand functions 1. What are her uncompensated demand functions (Marshallian demand function) for Q1 and Q2? 2. What are her compensated demand functions (Hicksian demand function) for Q1 and Q2? Effects of a price increase (substitution, income, and total effects) Her income is currently...

  • Question Kayla's utility depends on her consumption of good 1(Q1) and good 2 (Q2), and it...

    Question Kayla's utility depends on her consumption of good 1(Q1) and good 2 (Q2), and it is described by the following utility function: U(Q), Q2 ) = 27 Q7'3 Q3 Deriving Demand functions 1. What are her uncompensated demand functions (Marshallian demand function) for Q1 and Q2? 2. What are her compensated demand functions (Hicksian demand function) for Q1 and Q2? Effects of a price increase (substitution, income, and total effects) Her income is currently $360. Consider that the price...

  • 2. Consider the following four consumers (C1,C2,C3,C4) with the following utility functions: Consumer   Utility Function C1...

    2. Consider the following four consumers (C1,C2,C3,C4) with the following utility functions: Consumer   Utility Function C1                 u(x,y) = 2x+2y C2                 u(x,y) = x^3/4y^1/4 C3                u(x,y) = min(x,y) C4                u(x,y) = min(4x,3y) On the appropriate graph, draw each consumer’s indifference curves through the following points: (2,2), (4,4), (6,6) and (8,8), AND label the utility level of each curve. Hint: Each grid should have 4 curves on it representing the same preferences but with different utility levels. 3. In the following parts,...

  • I ONLY NEED HELP WITH "C". THE OTHER PARTS ARE PUT IN HERE IN CASE THE BACKGROUND INFO THERE IS N...

    I ONLY NEED HELP WITH "C". THE OTHER PARTS ARE PUT IN HERE IN CASE THE BACKGROUND INFO THERE IS NEEDED I know that the answer for "C" is given here. What I need help with is understanding how they got the answer. 1. In the 'slutsky' equation part please explain the meaning and significance of the "h" in the hR/pR part as well as the effect it has on the equation. 2. Please explain the 'slutsky' equation to me...

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