Int Microeconomics Thry Final Ch 5

Hans has $27 which he decides to spend on x and y. Commodity x costs $16 per unit and commodity y costs $10 per unit. He has the utility function U(x, y) = 2x2 + 2y2 and he can purchase fractional units of x and y. Hans will choose

Isobel consumes positive quantities of both jam and juice. The price of jam is 5 cents per unit and the price of juice is 10 cents per unit. Her marginal utility of jam is 10 and her marginal utility of juice is 5.

Jane's utility function is U(x, y) = x + 2y, where x is her consumption of good X and y is her consumption of good Y. Her income is $2. The price of X is $0.50, and the price of Y is $2.

Martha's utility function is U(x, y) = min{x + 2y, 2x + y}. George's utility function is U(x, y) = min{2x + 4y, 4x + 2y}. If George and Martha have the same income and face the same prices for the goods x and y,

Our old friend, Edmund Stench, of Chapter 2 loves punk rock video tapes. He has no income and therefore has to accept garbage in his backyard in return for money. Each video tape cost $2 and each sack of garbage that he accepts brings him $1. His utility function is given by U(c, g) = min{2c, 20 − g}, where c is the number of video tapes and g is the number of sacks of garbage that he gets per month. Each month he will choose to accept