# 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)?
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 Homework Market

Quality Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Qualified Writers

We have hired a team of professional writers experienced in academic and business writing. Most of them are native speakers and PhD holders able to take care of any assignment you need help with.

Unlimited Revision

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account.

Timely Delivery

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. We will always strive to deliver on time.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text.

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

## Calculate the price of your order

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.

Homework Market Writing Services

No need to work on essay at night. Sleep tight, we will cover your back. We offer all kinds of essay writing services.

## Essay Writing Services

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.