Joey likes beer and whisky and spends £75 in total on drink. His utility function for whisky (w) and beer (b) is = 5 + .
He can buy beer at £2 a can but the liquor store tries to discourage overconsumption of spirits by charging higher prices for larger quantities: the cost in dollars of bottles of whisky works out at !.
a. How many cans of beer and how many bottles of whisky does Joey consume?
b. Illustrate your answer with a clearly labelled diagram showing Joey's budget constraint and his indifference curve passing through the optimal consumption bundle.
c. Joey's friend Ross shops at the same liquor store and spends the same amount on drink. Jim, however, insists on drinking beer and whisky together. His utility function is = min{5, } How much beer and whisky does Jim buy?​

Answers

Answer 1
So what even is this make it shorter and I should be able to answer it
Answer 2
Joey spends £75 in total on drink. The cost of beer is £2 per can, and the cost of whisky is £6 per bottle.The budget constraint is: 2b + 6w = 75In summary, to fully answer the questions, we would need the specific numerical values for the utility function and the budget constraint.

To answer the questions, we need to understand the utility functions and budget constraints for both Joey and Jim. Let's break it down step by step:

Joey's Utility Function and Budget Constraint:

Joey's utility function for whisky (w) and beer (b) is given by: U(w, b) = 5 + (w^0.3 * b^0.7)

w: The quantity of whisky (in bottles) consumed by Joey

b: The quantity of beer (in cans) consumed by Joey

Joey spends £75 in total on drink. The cost of beer is £2 per can, and the cost of whisky is £6 per bottle.

To find how many cans of beer and bottles of whisky Joey consumes, we need to maximize his utility function while staying within his budget constraint.

Joey's Budget Constraint:

Joey's total expenditure on drink (E) is given by: E = 2b + 6w

And we know that E = £75.

So, the budget constraint is: 2b + 6w = 75

Now, we can solve this problem using optimization techniques. However, without specific numerical values for the utility function and budget constraint, it's not possible to determine the exact quantities of beer and whisky consumed by Joey. We can only find the optimal consumption bundle if the specific values are given.

Joey's Indifference Curve and Budget Constraint Diagram:

To illustrate Joey's optimal consumption bundle, we would need to plot his indifference curve (representing his preferences) and his budget constraint (showing all possible affordable combinations of beer and whisky). However, without the exact values, we cannot draw the diagram.

Jim's Utility Function and Consumption:

Jim's utility function for beer (b) and whisky (w) is given by: U(b, w) = min{5, (w^0.3 * b^0.7)}

Jim's utility function shows that he insists on drinking beer and whisky together, and his utility is the minimum of 5 and the product of whisky and beer raised to certain powers.

Again, without specific numerical values for the utility function, we cannot determine the exact quantities of beer and whisky consumed by Jim.

In summary, to fully answer the questions, we would need the specific numerical values for the utility function and the budget constraint. With those values, we could then calculate the optimal consumption bundles for both Joey and Jim.

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Related Questions

what is +x 4 for =x 3

Answers

Answer:

did u mean "what is x + 4 for x = 3"? Cuz if so then it is 7

Step-by-step explanation:

x + 4

Substitute the x with 3 since it was already given

3 + 4

7

B.
-2x + 8 = y
3x - y = 22

How do I solve it

Answers

answer

x=6, y=-2

explanation

-2x + 8 = y -------equ 1

3x - y = 22 -------equ 2

u can use any of the simultaneous equation method

using elimination method

rearrange first from -------equ 1

-2x+8=y

-y-2x=-8

multiple through by -1

y+2x=8 -------equ 3

rearrange first from -------equ 2

3x-y=22

-y+3=22 ------equ 4

equate 3 and 4, adding them together

y+2x=8 -------equ 3

-y+3=22 ------equ 4

0+5x=30

5x=30

x=6------equ 5

replace 6 for x in any equation

using -------equ 3

y+2x=8

y+2(5)=8

y+10=8

y=8-10

y=-2

Answer:

(x, y)=(6, -4)

Step-by-step explanation:

-2x+8=y

3x-y=22

Substitute the given value of y into the equation 3x-y=22

3x-(-2x=8)=22

Solve the equation for x

x=6

Substitute the given value of x into the equation 3x-y=22

3x6-y=22

Solve the equation for y

y=-4

The possible solution of the system is the ordered pair (x, y)

(x, y)=(6, -4)

Check if the given ordered pair is the solution of the system of equations

-2x6+8=-4

3x6-(-4)=22

Simplify the equalities

-4=-4

22=22

Since all of the equalities are true, the ordered pair is the solution of the system

(x, y)=(6, -4)

help i need help fast​

Answers

Answer : Vertical .

Answer:

Vertical, Horizontal, and Diagonal

Step-by-step explanation:

5 lines of Symmetry.  

It has four lines of symmetry and four sides. A regular pentagon has 5 sides and 5 lines of symmetry. The number of lines of symmetry in a regular polygon is equal to the number of sides.

11 12 13 14 15
There were 180 people who voted at the town council meeting. Of these people, 60% voted for building a
new basketball court in the park
How many people voted against building the new basketball court? Complete the explanation of how to
find the answer
60% of 180 equals
and 180-
people that are against building the basketball court.
There are

Answers

the graphing would be easier to use because it demonstrates the numbers that are in the situation

Describe how to round 3.897 to the nearest tenth

Answers

Answer:

To round 3.897 to the nearest tenth consider the hundredths’ value of 3.897, which is 9 and equal or more than 5. Therefore, the tenths value of 3.897 increases by 1 to 9.

3.897 rounded to the nearest tenth = 3.9

Determine if the two triangles are congruent and write the conjecture.
pls help

Answers

Answer:

(see below)

Step-by-step explanation:

First, to make it easier for yourself, "flip" the triangles so that they "match." To see what I'm talking about, refer to IMAGE.A.

Now that you can tell that the congruent side and angles are corresponding, you have to prove them congruent.

There is one side and two angles, so it's AAS or SAA.

2 2/3 - 1 1/2 - 4/5
Need answers pls show how you got it

Answers

it would be 45
l hope that helps

Question 10(Multiple Choice Worth 1 points)
(05.02 MC)

The table below shows data from a survey about the amount of time students spend doing homework each week. The students were in either college or high school:


High Low Q1 Q3 IQR Median Mean σ
College 50 6 8.5 17 8.5 12 15.4 11.7
High School 28 3 4.5 15 10.5 11 10.5 5.8


Which of the choices below best describes how to measure the spread of these data?
(Hint: Use the minimum and maximum values to check for outliers.)
Both spreads are best described by the IQR.
Both spreads are best described by the standard deviation.
The college spread is best described by the IQR. The high school spread is best described by the standard deviation.
The college spread is best described by the standard deviation. The high school spread is best described by the IQR.

Answers

Answer:

The college spread is best described by the IQR. The high school spread is best described by the standard deviation.

Step-by-step explanation:

The college data has large outliers which skews the data, therefore the IQR is better measure of spread.

The high school data does not appear to be skewed so the standard deviation is fine as a measure of spread.

3/6 + 1/2 what is the answer.​

Answers

Answer:

reduce 3/6 to lowest terms which would be, 1/2 because 3 goes into 3 once and 3 goes into 6 twice.  

Making your equation simplified to

1/2 + 1/2

which is equal to 1

1/2 + 1/2 = 1

Step-by-step explanation:

Hope this helps! Have a fantastic day and please mark brainliest

Answer:

3/6+1/2

find the lcm of 6&2 = 6

3+3/6= 6/6 = 1

I need help solving these two questions
3x-5x=0
x-5x=-10

Answers

Answer:

x=0 and x=5/2

Step-by-step explanation:

Combine like terms.

-2x=0

x=0/-2

x=0

-4x=-10

x=-10/-4

x=5/2

Angles that ALWAYS sum to 180°

Answers

Answer:

supplementary angles

Step-by-step explanation:

Solve the following, where 0° 0, then find cot

Answers

Answer:

Nativism is the political position of preserving status for certain established inhabitants of a nation as compared to claims of newcomers or immigrants. It is characterized by opposition to immigration based on fears that the immigrants will distort or spoil existing cultural values.

Step-by-step explanation:

A polling company plans to create a probability model for a state election. In a telephone survey of 750 residents who stated they were registered to vote, they found that 318 planned to vote for the Democratic candidate, 268 planned to vote for the Republican candidate, with the remainder were undecided. What is a reasonable probability model for the state election?

Select the correct ANSWERS from the list below

54% plan to vote for the Democratic candidate|

22% are undecided.

18% are undecided.

36% plan to vote for the Republican candidate.

46% plan to vote for the Republican candidate.

42% plan to vote for the Democratic candidate


this decides my grade please only answer if you know it

Answers

Answer:

22% are undecided

36% plan to vote Republican

42% plan to vote Democratic

Step-by-step explanation:

Take 318 and divide it by 750 to find the democratic vote. Round to the nearest whole number.

318/750 = 0.424

Same for Republican except take 268 and divide by 750.

268/750 = 0.357

Add both percentages together. 36% + 42% = 78%

So there is 22% of the population that either did not answer or are undecided.

The correct answers are:

22% are undecided

36% plan to vote Republican

42% plan to vote Democratic

What is Probability?

Probability refers to potential. A random event's occurrence is the subject of this area of mathematics.

The range of the value is 0 to 1. Mathematics has incorporated probability to forecast the likelihood of various events.

The degree to which something is likely to happen is basically what probability means.

Given:

Total Resident = 750

Out of which 318 planned to vote for the Democratic candidate, 268 planned to vote for the Republican candidate.

So, 318/750 = 0.424

                    = 42.4%

and, 268/750 = 0.357

                       = 35.7%

So, the percentage who decided to vote = 36% + 42% = 78%

Hence, there is 22% of the population that either did not answer or are undecided.

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PLS HELP: I am unsure how to calculate this into final numbers.

Cal Amity decided to survey 880 inhabitants of the Kingdom so that he could have a confidence level of 95% and a margin of error of 3%. He found that 72% of his sample answered "yes" to the second survey question, which was, "Have you done anything, or will you do anything, to prepare your kitchen for Gourmando's visit?"


Mr. Amity can infer that, most likely, between _[blank A]_ and _[blank B]_ inhabitants of the Kingdom have done, or will do something, to prepare their kitchen before Gourmando's visit.

Options:

blank A: 3450

blank B: 5000

blank A: 0

blank B: 300

blank A: 3600

blank A: 150

blank B: 3600

blank B: 3750

Answers

Complete question :

Cal Amity decided to survey 880 inhabitants of the Kingdom so that he could have a confidence level of 95% and a margin of error of 3%. He found that 72% of his sample answered "yes" to the second survey question, which was, "Have you done anything, or will you do anything, to prepare your kitchen for Gourmando's visit?"

Mr. Amity can infer that, most likely, between _[blank A]_ and _[blank B]_ inhabitants of the Kingdom have done, or will do something, to prepare their kitchen before Gourmando's visit.

If a population is 5000

Answer:

blank A: 3450

blank B: 3750

Step-by-step explanation:

Number of inhabitants surveyed = 880

Population size = 5000

Error margin = 3%

Percentage that answered 'yes' = 72%

The confidence interval :

Mean ± Error margin

Lower Bound = 72% - 3% = 69% = 0.69

Upper bound = 72% + 3% = 75% = 0.75

Since the question want us know the overall inhabitants of the kingdom who fall between this interval :

Blank A = lower boundary = 0.69 * 5000 = 3450

Blank B = upper boundary = 0.75 * 5000 = 3750

Help please!
And thank u

Answers

a/7 + a/3 = 10
a = 21

Answer:

[tex] \frac{a}{7} + \frac{a}{3} = 10 \\ \frac{(3a + 7a)}{21} = 10 \\ \frac{10a}{21} = 10 \\ a = \frac{(10 \times 21)}{10} \\ \boxed{a = 21}[/tex]

a=21 is the right answer.

Angel and Jayden were at track practice. The track is 2/5 kilometers around.
Angel ran 1 lap in 2 minutes,
Jayden ran 3 laps in 5 minutes.
a) How many minutes does it take Angel to run
one Kilometer?
b) How many minutes does it take Jayden to run
one Kilometer?

will give brainlist!!

Answers

A.) 5 minutes
B.) 4 minutes

pls answer this asap

Answers

Answer:

its c or d

Step-by-step explanation:

Sally runs for 5 miles. She drinks one bottle and 4/5 a bottle of water for every mile. If she runs for 3 more miles, how many bottles of water will she have drunk? Please help!!

Answers

Answer:

2.4 or 2 2/5 bottles of water

Each month Javier takes his recycling to the local recycling center where he separates the glass bottles into different
colors. He would like to determine the proportion of glass his household recycles that is clear glass, so he mixes up
his container and randomly grabs 10 glass items and determines the proportion that are clear glass.
The population is
The sample is
The parameter is the proportion of
The statistic is the proportion of

Answers

Answer:

The population is: all glass recycled

The sample is: the 10 selected glass items.

The parameter is the proportion of: all his glass that is clear

The statistic is the proportion of: the selected glass that is clear

The population of a distribution is the entire group, while the sample is the selected group from the entire group.

The population is all glass recycled The sample is the 10 selected glass items. The parameter is the proportion of all his glass that is clear The statistic is the proportion of the selected glass that is clear

The population

From the question, we understand that glasses are recycled and then separated into colors.

This means that, the population is all glass recycled

The sample

From the question, we understand that he randomly grabs 10 glass items, and then determine the proportion of clear glasses.

This means that, the sample is the 10 selected glass items.

The parameter

This is the value that summarizes all the glasses that are being recycled.

So, the parameter is the proportion of all his clear glasses

The statistic

This is the value that summarizes the selected glasses.

So, the statistic is the proportion of the selected glass that is clear

Read more about samples and population at:

https://brainly.com/question/15683425

Explain how to write the equation from the graph

Answers

Answer:

im guessing because its a slope were trying to find the slope intercept so y1~mx1+b on desomos or y=mx+b in actual equation form

Step-by-step explanation:

what is $5.36 for 20 oz.

Answers

Answer:

5.36/20

0.268 dollars per oz

Step-by-step explanation:

Its PreCal I’ll give brainliest

Answers

Answer:

tan²x + tan x - 12 = 0 (1)

suppose: tan x = t

(1)=> t² + t - 12 = 0

a = 1    b = 1     c = -12

⇒ Δ = b² - 4ac = 1 + 48 = 49 > 0 => has 2 solutions

=> t = [tex]\frac{1+\sqrt{49} }{2}=\frac{8}{2}=4[/tex]

or t = [tex]\frac{1-\sqrt{49} }{2}=\frac{-6}{2}= -3[/tex]

because t = tan x => tan x = 4 or tan x = -3

because x ∈ [0;2pi) => with tan x = 4 => x = arctan(4)  or x = arctan(4) + pi

                                     with tan x = -3 => x = arctan(-3) + pi

Step-by-step explanation:

What is 3 1/4 as a fraction

Answers

Answer:

13 / 4

Step-by-step explanation:

Gina went to a restaurant for lunch. On her bill the sales tax equals $2.34. If the tax is 8.5%, what was the subtotal (without tax) of her meal?

Answers

Answer:

$2.5389

Step-by-step explanation:

Given data

Cost of lunch = $2.34

Tax= 8.5%

Let us compute the cost of the tax

=8.5/100*2.34

=0.085*2.34

= $0.1989

Hence the total is = 0.1989+2.34

=$2.5389

A pool is surrounded by a rectangular fence with a
perimeter of 72 yards. If the length of the fence is 3
times the width, what is the length of the fence, in yards?

Answers

Answer:

width is 33

Step-by-step explanation:

width (b) =?

length(l)=3

perimeter (p)=?

now,

perimeter = 2(l+b)

or,72= 2(3+ b)

or,72/2= 3+b

or,36= 3+b

or,36-3= b

or,33= b

therefore width is 33

Please Please Help ME!!! its so hard 50 points
Brainiest for correct answer.

Answers

Answer:

hiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii

Step-by-step explanation:

Which expression is equivalent to 3 the 5th power?

Answers

Answer:

The expression equivalent to 3 to the 5th power is 3^5.

The number 3 raised to the 5th power is represented through the expression 3 ^ 5, which means that the number 3 is multiplied by itself 5 times (3x3x3x3x3), which results in the number 243, which is can be corroborated by the following calculations:

3x3 = 9

9x3 = 27

27x3 = 81

81x3 = 243

The solution is: The expression equivalent to 3 to the 5th power is 3^5.

Here, we have,

The number 3 raised to the 5th power is represented through the expression 3 ^ 5,

which means that the number 3 is multiplied by itself 5 times (3x3x3x3x3),

which results in the number 243,

which is can be corroborated by the following calculations:

3x3 = 9

9x3 = 27

27x3 = 81

81x3 = 243

Hence, The solution is: The expression equivalent to 3 to the 5th power is 3^5.

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help pls thank you :)))$$:$:

Answers

Answer:

C.

Step-by-step explanation:

please mark me brainliest!!

Answer:

The answer is A

Step-by-step explanation:

Denominator *100* is higher

Which of the following has zeros that are not significant?


2.05 m/s


10.0 J


1.30 N


100 kg

Answers

Answer:

Your answer would be D. 100 kg

Step-by-step explanation:

I took the test and got it correct

Hope this helps

Good luck!

The required zero that has not significant is 100, 10.0, and 1.30.

Given that,
To determine the number that has zeros that are not significant.

What is a number system?

A number system is described as a technique of composing to represent digits. It is the mathematical inscription for describing numbers of a given set by using numbers or other characters in a uniform method. It delivers a special presentation of every digit and describes the arithmetic structure.

Here,

Zeros between non-zero numbers are significant.
So it contains 2.05,


Zeros to the left of the first non-zero digit are not significant.
It contains 100, 10.0. and 1.30


Thus, the required zero that has not significant is 100, 10.0 and 1.30

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Richard learned a total of 30 appetizer recipes over the course of 6 weeks of culinary school. After 7 weeks of culinary school, how many total appetizer recipes will Richard know? Assume the relationship is directly proportional.

Answers

30/6=5
He learns 5 recipes a weeks so 7x5=35
Richard will know 35 recipes in all
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