Suppose your total benefit from eating slices of pizza​ (value in​ dollars) is   8x−x^2​,   where x is the number of slices of pizza. Pizza is sold by the slice and costs ​$2 per​ slice, and so the total cost of pizza is 2x. Using optimization in​ levels, what is the optimal amount of pizza for you to​ eat?

If corn cost $.55 per pound and protein supplement cost $.12 per pound what is the maximum amount of corn purchase with a $2200 budget?

A consumer has the following utility function (shown in image) where ? is the number of spa days and ? is the number of city breaks consumed. Suppose that the price of a spa day is £200 and the price of a city break is £300. (i) Set up the economic problem and find the numbers of spa days and city breaks that minimise expenditure if 12,800 units of utility are to be obtained.

The utility function of a consumer is u = √x + 2y. (a) Calculate how much MRS of that consumer when x = 4. (b) If the consumer currently consumes 4 units of goods x and the price ratio of Px / Py = 1/4, then the consumer should increase or decrease the consumption of goods x?

Canada has a massive resource of bitumen in the Athabasca oil sands near Fort McMurray. These deposits are also commonly known as tar sands, because of the sticky nature of the bitumen, which is disseminated in sandstone host rock. Note, the location of oil sands near the Athabasca River in Question 7 above. As oil accumulated in the shallow trap (the one that is drilled!), over geological time, some of it escaped over the spill-point of the trap and flowed, under buoyancy (oil is less dense than water), beneath the shale caprock that retains it. Near the surface, this oil collected near the Athabasca river and progressively degrades from crude into bitumen, a lower grade ‘dirty’ form of viscous and dense oil that requires significant refining after it has been physically separated from the encasing sands of the McMurray Formation. Despite the complications in exploiting bitumen from oil sands, relative to pumping crude, the bitumen resources of Alberta are enormous volumetrically.…

Consumer demand for Caramel Iced Mochas (a kind of drink) at a coffee shop is given by  p=7−.25x dollars per drink, where x items are drinks are sold every day. Total consumer spending S is the product of the price per drink and the number of drinks sold. Which of the following is a formula for total consumer spending?

Urgent

Consider a graph with paper on the x-axis and pencils on the y-axis.  If the price of pencils increases, then (select all that apply):   Check All That Apply the budget constraint will become steeper (the absolute value of the slope will increase).the budget constraint will become steeper (the absolute value of the slope will increase). the budget constraint will become flatter (the absolute value of the slope will decrease).  the budget constraint will become flatter (the absolute value of the slope will decrease). the slope of the budget constraint will not change.the slope of the budget constraint will not change. the x-intercept will increase.the x-intercept will increase. the x-intercept will decrease.the x-intercept will decrease. the x-intercept will not change.the x-intercept will not change. the y-intercept will increase.the y-intercept will increase. the y-intercept will decrease.the y-intercept will decrease. the y-intercept will not…