Guerdon always puts half a sliced banana, q,, on his bowl of cereal, q2 The two 14 goods are perfect complements. What is his utility function? Derive his demand curve for bananas graphically and mathematically. 12- 10- Guerdon's utility function (as a function of q, and q2) is 8 6- A. U=min/29,.92}- 4- O B. U=9, +92- 2- OC. U= 29, + q2- 10 12 14 16 18 20 22 24 Bananas 6 OD. U=0.591 + q2- OE. U=9, x42- Q 5.00 4.50- Guerdon's demand function for bananas (as a function of the price of bananas, P1, the price of a bowl of cereal, p2, and income, Y) is 4.00 3.50 91 (p1 + 2p2) (Properly format your expression using the tools the 3.00- palette. Hover over tools created with the character.) see keyboard shortcuts. E.g., a subscript can be 2.50 S 2.00- 1.50- 1.00- 0.50 0.00 2. 10 12 14 16 18 20 22 24 Bananas O stv 80 DII DD F1 F3 E4 FS F6 F7 FB F9 F10 @ 23 2$ & * 1 2 3 4. 6. 8. Q W Y U S D F H. J K A P. S per banana Cereal (bowls) .. .-
Guerdon always puts half a sliced banana, q,, on his bowl of cereal, q2 The two 14 goods are perfect complements. What is his utility function? Derive his demand curve for bananas graphically and mathematically. 12- 10- Guerdon's utility function (as a function of q, and q2) is 8 6- A. U=min/29,.92}- 4- O B. U=9, +92- 2- OC. U= 29, + q2- 10 12 14 16 18 20 22 24 Bananas 6 OD. U=0.591 + q2- OE. U=9, x42- Q 5.00 4.50- Guerdon's demand function for bananas (as a function of the price of bananas, P1, the price of a bowl of cereal, p2, and income, Y) is 4.00 3.50 91 (p1 + 2p2) (Properly format your expression using the tools the 3.00- palette. Hover over tools created with the character.) see keyboard shortcuts. E.g., a subscript can be 2.50 S 2.00- 1.50- 1.00- 0.50 0.00 2. 10 12 14 16 18 20 22 24 Bananas O stv 80 DII DD F1 F3 E4 FS F6 F7 FB F9 F10 @ 23 2$ & * 1 2 3 4. 6. 8. Q W Y U S D F H. J K A P. S per banana Cereal (bowls) .. .-
Chapter21: Demand: Consumer Choic
Section: Chapter Questions
Problem 16E
Related questions
Question
Transcribed Image Text:Guerdon always puts half a sliced banana, q, , on his bowl of cereal, q, The two
14
goods are perfect complements. What is his utility function? Derive his demand
curve for bananas graphically and mathematically.
12-
10-
e,
Guerdon's utility function (as a function of q, and q2) is
6-
VA U= min/2q1.92}
4-
O B. U=q, +92-
2-
0+
OC. U=29, + q92-
10 12 14 16 18 20
6
22
Bananas
O D. U=0.5q1 + q2-
OE. U=q, xq2-
5.00-
4.50-
Guerdon's demand function for bananas (as a function of the price of bananas,
P1. the price of a bowl of cereal, p2, and income, Y) is
4,00-
3.50-
91 =
(p1 + 2p2)
(Properly format your expression using the tools in the
E 3.00
palette. Hover over tools to see keyboard shortcuts. E.g., a subscript can be
created with the_ character.)
2.50-
* 2.00-
P.
1.50-
1.00-
0.50-
0.00+
10 12 14
Bananas
tv
80
DI
DD
F1
F3
F4
F5
F6
F7
F8
F10
@
%23
$
&
1
3
4
7
Q
W
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Y
U
S
F
H.
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く
C
V
M
option
command
command
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ーの
* CO
Cereal (bowls)
p. S per banana
B
* *
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A
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