Answer to Question #86067 in Inorganic Chemistry for AVENUE HEALTHCARE

Question #86067
aThe utility function for a consumer utility is U=30Q1 1/2 Q2 1/2 .If the price per unit of Q1 is Ksh 10 and Ksh 5per unit of Q2, determine quantities Q1 and Q2 that the consumer should have to maximize utility if the consumer Ksh 350budgeted
1
Expert's answer
2019-03-12T15:53:52-0400


Answer:

U=30Q1 x Q2/2

Q2=Q1/2

U=350

Q1 and Q2 ?

Q1=✓350:15=4.83



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AVENUE HEALTHCARE
12.03.19, 08:04

Wilson an automotive technician has been operating a garage in Mombasa for the past two years. A year ago he converted part of his garage to a welding shop making and selling metal doors and windows. He had anticipated that he cost of welding shop would primarily be final but has realized that the welding cost increased with the increase in number of welding job assignment. The costs of welding job assignments are as follows

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