what is the derivative of the utility function UU = log (100-2PPii) + log(PPjj+PPdd) with respect to PPjj. Budget constaint XXii = 100 - 2PPii

= x 2 y. This Consider a consumer with the utility function U (x, y) = Vxy 글3글2-iy and MU, Vx = x? They have 1 function gives MU Va a budget of $60, and pr 1 and Py 2. Find optimal consumption of x and y.

Steve's utility for socks (q1) and other goods (q2) is given by U(q1,q2) = 10q10.1 0.1q² 0.9 The price of the composite good is p2=1 and the price of a pair of socks is p1=2. Steve's income is Y=100. Every year, Steve's mom buys him 20 pairs of socks. How many dollars is the equivalent variation of the $40 that his mom spends on socks every year?

Suppose you have the following indirect utility function: 72 V(Px, Py, I) = In (. PxPy

QUESTION 1 Qx0.65Qy(1-0.65) and the budget 127 = 6Qx + 6Qy find the CHANGE in optimal consumption of Y if the price of X increases by a factor of For the utility function U = 1.8. Please enter your response as a positive number with 1 decimal and 5/4 rounding (e.g. 1.15 = 1.2, 1.14 = 1.1).

Jerry's utility function is U(x,y) = ( 5x + y ) 18. Find Jerry's MRS (for good X in terms of good Y) and then find the value of the derivative dMRS/dx at the point were x=39 and y=69 and enter it below. Remember to enter the number in decimal form. If the number is negative, then use the negative sign (e.g., -3.29839).

Anthony seeks to maximize the following utility function u(x, y) = x'/3y2/3 subject to the budget constraint Pæa + PyY = I 1 where pr, Py, x, y, I > 0. a) Find Anthony's utility-maximizing bundle (x*, y*) as a function of pæ, Py, and I. b) Show that y* is decreasing in py and increasing in I (hint: use partial derivatives). c) What share of Anthony's income is spent on x? What share is spent on y? In other words, calculate Pa and Pu. Are these shares a function of prices? Pyy* Note: The above utility function is Cobb-Douglas, and all Cobb-Douglas functions have these share formulas for any values for the exponents. d) What is the impact of a change in pr on Anthony's utility?

Please draw the income-consumption (or income-offer) curve for each of the following utility functions, indicating the slope of each: (a) U = (A)(x^a)(y^b)  (b) U = min(ax, by) (c) U = ax + by

Greg has the following utility function: u = x0.47x953. He has an income of $52.00, and he faces these prices: (p₁. p₂) = (1.00, 3.00). Suppose that the price of x, increases by $1.00. Calculate the equivalent variation for this price change.