How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Joanne Your Own Question

Joanne
Joanne, Tutor
Category: Homework
Satisfied Customers: 3632
Experience:  BSc (Hons) Political Science
14883717
Type Your Homework Question Here...
Joanne is online now
A new question is answered every 9 seconds

3. State whether the consumer in each of the following situations

Resolved Question:

3. State whether the consumer in each of the following situations is maximizing utility. If she is not, state what adjustments she should make to maximize utility.

a. Selma consumes 2 sandwiches and 3 Coca-colas. The last sandwich gives Selma 25 units of utility and the last Coca-cola gives her 5 units of utility. Sandwiches cost $5 apiece and Coca-colas cost $1 apiece.



b. Kristin eats 2 Twix bars and 1 bag of M&Ms. The last Twix bar gives Kristin 10 units of utility and the last bag of M&Ms gives her 30 units of utility. Twix bars cost $0.50 apiece and one bag of M&Ms costs $0.75.



c. Jackie reads another chapter in her novel that gives her 400 units of utility at a cost of 30 minutes of her time and another chapter in her economics text that gives her 1,500 units of utility at a cost of 1 ½ hours of her time.
Submitted: 4 years ago.
Category: Homework
Expert:  Joanne replied 4 years ago.

Joanne :

hi

Joanne :

your answer is ready

Joanne :

please download here

Customer:
Joanne and 2 other Homework Specialists are ready to help you