A student has a monthly budget of $800. She can spend her budget on two items, X and Y. Each unit of X costs $20 and each unit of Y costs $10. If the student has a utility function of U = 348X + 100Y + 6X2 + 4Y2 + 2XY, what is the optimal amount of X and Y for her to consume to have the maximum utility? What is this total utility? What is the value of lambda and what does this mean?

Check the explanation

Step-by-step explanation:

Total utility is the overall satisfaction that a particular consumer received from consuming a given overall quantity of a good or service, To calculate the value of total utility economists utilize the following basic total utility formula: TU = U1 + MU2 + MU3

Kindly check the attached image below to see the step by step explanation to the question above.

answer: the 4 kilogram bag

step-by-step explanation: this is because if you divide the number of kilograms into the total it will tell you how much each individual kilogram would be worth. 2 kilos is 7 and change 3 would be around 6 ish and the 4 kilo would be 4.6 and change and the 5 kilos would be like 4.88

the direct variation says that:

then the equation is of the form is given by:

            where k is the constant variation.

from the given table:

consider any value of x and m(x)=y

x = 2 and m(x)=y = 3

substitute these value in [1]; we have;

divide both sides by 2 we get;

⇒

check:

put x = -1 and m(x) = -1.5

substitute in the equation:

-1.5 = -1.5                   true

therefore, the function m(x) represents a direct variation

graph of this function as shown below: