Tom is vegetarian and always eat a salad (s) with 2 glasses of green juice (g). Hisutility for the two goods is therefore1u(s, g) = min{s, 79} Tom's indirect utility function is(a) VIPs+2pg(b) V(c) V(d) V ===(e) V:=IPs+PgI(Ps+Pg)IPsPg1Ps+Pg

Tom's utility function: This utility function shows that the salad (s) and green juice (g) are…

Answered: Tom's indirect utility function is (a)…

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Tom's indirect utility function is (a) V = I Ps+2pg (b) V = (c) V (d) V = = (e) V = I Ps+Pg I (Ps+Pg) I 2PsPg I Ps+Pg

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Tom is vegetarian and always eat a salad (s) with 2 glasses of green juice (g). His
utility for the two goods is therefore
1
u(s, g) = min{s, 79}

Tom's indirect utility function is
(a) V
I
Ps+2pg
(b) V
(c) V
(d) V =
=
=
(e) V:
=
I
Ps+Pg
I
(Ps+Pg)
I
PsPg
1
Ps+Pg

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