Christina enjoys salads and subs for weekday lunches, and she prefers a mix of both to...

 

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Christina enjoys salads and subs for weekday lunches, and she prefers a mix of both to extreme amounts of either one. Specifically, her utility over subs and salads can be represented by the function u(x1,x2) = 46x1x2, where x1 is the number of subs she eats per month and x2 is the number of salads. 1st attempt Part 1 (2 points) O See Hint What utility would Christina receive from consuming four subs and four salads in a month? If Christina consumes 16 salads, how many subs will she consume to achieve the same utility as (4,4)? Part 2 (1 point) O See Hint All bundles that provide utility of 736 lie on the same indifference curve. The equation for this curve can be found by simply setting the utility value equal to the function; it is the curve where 736 =46x1x2. X2 = x1. Now graph this equation. Start by plotting the two points you have from Part 1 ((4,4) and the point with 16 salads) as well as the point (16,1). Then use the curve tool to plot the indifference curve through all three points. To refer to the graphing tutorial for this question type, please click here. Christina's Lunches Salads 16 15 14 13 12 11 10 5 4 3 2 Subs Part 3 (2 points) O See Hint Suppose that Christina has one sub and 16 salads. Her friend Latoya offers to trade her two subs for 10 salads. Will Christina accept the trade? Choose one: O A. no оВ. уes O C. not enough information to say Suppose Latoya has three subs she is willing to trade. What is the maximum number of salads Christina would give up for three subs? Christina enjoys salads and subs for weekday lunches, and she prefers a mix of both to extreme amounts of either one. Specifically, her utility over subs and salads can be represented by the function u(x1,x2) = 46x1x2, where x1 is the number of subs she eats per month and x2 is the number of salads. 1st attempt Part 1 (2 points) O See Hint What utility would Christina receive from consuming four subs and four salads in a month? If Christina consumes 16 salads, how many subs will she consume to achieve the same utility as (4,4)? Part 2 (1 point) O See Hint All bundles that provide utility of 736 lie on the same indifference curve. The equation for this curve can be found by simply setting the utility value equal to the function; it is the curve where 736 =46x1x2. X2 = x1. Now graph this equation. Start by plotting the two points you have from Part 1 ((4,4) and the point with 16 salads) as well as the point (16,1). Then use the curve tool to plot the indifference curve through all three points. To refer to the graphing tutorial for this question type, please click here. Christina's Lunches Salads 16 15 14 13 12 11 10 5 4 3 2 Subs Part 3 (2 points) O See Hint Suppose that Christina has one sub and 16 salads. Her friend Latoya offers to trade her two subs for 10 salads. Will Christina accept the trade? Choose one: O A. no оВ. уes O C. not enough information to say Suppose Latoya has three subs she is willing to trade. What is the maximum number of salads Christina would give up for three subs?

Answer rating: 100% (QA)

ux1x2 46 x 1 x 2 1 u44 46 44 736 2 If x 2 16 and u 736 then x1 736 46 x 1 1... View the full answer