# Utility Assignment | Homework For You

1. Suppose Melissa’s utility over X and Y can be represented by U(X,Y)-Y. Melissa maximizes her utility subject to a budget constraint. What are her uncompensated demand functions, X*(pX, pY, I) and Y*(pX, pY, I)?

Don't use plagiarized sources. Get Your Assignment on
Utility Assignment | Homework For You
Just from \$13/Page

X*(pX, pY, I) and Y*(pX, pY, I)/Py

X*(pX, pY, I)/pX and Y*(pX, pY, I)

X*(pX, pY, I) and Y*(pX, pY, I)/(Py)

X*(pX, pY, I)/pX and Y*(pX, pY, I)

X*(pX, pY, I) and Y*(pX, pY, I)/(2Py)

X*(pX, pY, I)/(2pX) and Y*(pX, pY, I)

2. My utility function U(x,y) only depends on two commodities x and y. When and , my demand functions are such that I spend all of my income on y and never buy any of x, no matter how large or small my income may be. On the basis of this information, my friends have concluded that x is necessarily an economic bad for me. Are they correct?

True

False

3. Suppose you solve a consumer’s problem to maximize her utility subject to her budget constraint — and your answer contains a negative consumption level of good 2! Which of the following is a valid conclusion on your part:

The true optimum has the consumer consume none of good 2.

The true optimum has the consumer consume none of good 1.

There are multiple “true” optimal consumption bundles.

The consumer will sell good 2.

The consumer will sell good 1.

None of the above answers is correct

4. Can a consumer ever be maximizing her utility subject to her budget constraint if the “bang-for-her-buck” (her added utility from the last dollar spent on the good) is not the same across all of the goods she consumes?

Yes

No

5. Matt’s utility over commodities x1 and x2 can be represented by U(x1, x2)(A)+6log(x1)+4log(x2). What is Matt’s ordinary demand function for x1*(p1,p2,I)?

10(I/p1)

.6[I/(p1+p2)]

10I/(p1+p2)

6I/(p1+p2)

0.6(I/p1)

6. Ben gets utility from apples and bananas and his preferences can be represented by the utility function U(A,B)+B. If the price of apples is 3 times the price of bananas, what is Ben’s ordinary demand function for apples, A*(pA, pB, I)?

A*(pA, pB, I)A

A*(pA, pB, I)

A*(pA, pB, I)/(2pA)

A*(pA, pB, I)/(3pA)

A*(pA, pB, I)/pA. Get Economics homework help today

Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

At Myhomeworkwriters.com, we always aim at 100% customer satisfaction. As such, we never compromise o the quality of our homework services. Our homework helpers ensure that they craft each paper carefully to match the requirements of the instruction form.

With Myhomeworkwriters.com, every student is guaranteed high-quality, professionally written papers. We ensure that we hire individuals with high academic qualifications who can maintain our quality policy. These writers undergo further training to sharpen their writing skills, making them more competent in writing academic papers.

Affordable Prices

Our company maintains a fair pricing system for all academic writing services to ensure affordability. Our pricing system generates quotations based on the properties of individual papers.

On-Time delivery

My Homework Writers guarantees all students of swift delivery of papers. We understand that time is an essential factor in the academic world. Therefore, we ensure that we deliver the paper on or before the agreed date to give students ample time for reviewing.

100% Originality

Myhomeworkwriters.com maintains a zero-plagiarism policy in all papers. As such, My Homework Writers professional academic writers ensure that they use the students’ instructions to deliver plagiarism-free papers. We are very keen on avoiding any chance of similarities with previous papers.

Our customer support works around the clock to provide students with assistance or guidance at any time of the day. Students can always communicate with us through our live chat system or our email and receive instant responses. Feel free to contact us via the Chat window or support email: support@myhomeworkwriters.com.

Try it now!

## Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
\$0.00

How it works?

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Our Homework Writing Services

My Homework Writers holds a reputation for being a platform that provides high-quality homework writing services. All you need to do is provide us with all the necessary requirements of the paper and wait for quality results.

## Essay Writing Services

At My Homework Writers, we have highly qualified academic gurus who will offer great assistance towards completing your essays. Our homework writing service providers are well-versed with all the aspects of developing high-quality and relevant essays.