In: Economics

# If Wanda, the consumer, is currently purchasing 1 apple and 3 oranges, is she maximizing her utility? Why or why not?

##### A utility-maximizing consumer who consumes quantity x and y of two goods has a quadratic utility...
A utility-maximizing consumer who consumes quantity x and y of two goods has a quadratic utility function given by Ux,y=x+y-0.05x2-0.05y2 subject to 2x+5y=128 Where \$128 is the consumer’s budget and the prices of the two goods are, respectively, 2 and 5. Assuming marginal utilities Ux, Uy > 0, a. Find the quantity x and y that maximize the utility function. b. Using bordered Hessian, check utility for a maximum. c. What is the maximum utility of the consumer?
##### we'vr learned that the consumer ms utility maximizing choice is where the ratio of the marginal...
we'vr learned that the consumer ms utility maximizing choice is where the ratio of the marginal utility of two good are equal to each other (Mux/px=Muy/py).what does this condition mean and wht is it the utility maximizing choice?explain
##### Scenario Wanda comes to you because she is discouraged and needs to talk. Her parents have...
Scenario Wanda comes to you because she is discouraged and needs to talk. Her parents have heard she is thinking of expanding her business and even possibly taking out a second mortgage on her home to fund the expansion. They have never been overly supportive of her business, but as long as it seemed like a “hobby,” they didn’t have much to say. Recently Wanda’s mother called and expressed strong reservations about Wanda taking such a large step. This made...