Question: Marys utility function is U(b, c) = b + 100c c2, where b is the number of silver bells in her garden and c
(a) To maximize her utility, given the size of her garden, Mary should plant _____ silver bells and _____ cockle shells.
(b) If she suddenly acquires an extra 100 square feet for her garden, how much should she increase her planting of silver bells? _____. How much should she increase her planting of cockle shells? _____.
(c) If Mary had only 144 square feet in her garden, how many cockle shells would she grow? _____.
(d) If Mary grows both silver bells and cockle shells, then we know that the number of square feet in her garden must be greater than _____.
Step by Step Solution
3.40 Rating (169 Votes )
There are 3 Steps involved in it
a To maximize her utility given the size of her garden ... View full answer
Get step-by-step solutions from verified subject matter experts
Document Format (1 attachment)
649-B-E-D-S (940).docx
120 KBs Word File
