Your Perfect Assignment is Just a Click Away

We Write Custom Academic Papers

100% Original, Plagiarism Free, Customized to your instructions!


UCLA Microeconomics Budget Constraint Minimum Income & Consumers Demand Worksheet

UCLA Microeconomics Budget Constraint Minimum Income & Consumers Demand Worksheet

Question Description

Question 1 (Choice). Ernie has two cell phones and obtains positive utility from talking on both. His utility usingAT&T (x1) and Verizon (x2) is given by:U(x1, x2)= x10.5+ x20.5The price of calls at AT&T is $1 per unit and the price of calls at Verizon is $4 per unit. Ernie spends $2000 onphone calls per yeara) What is Ernie’s optimal bundle? (Hint: You may use the Lagrange Method or simply set the MRS equal tothe price ratio, and plug this into the budget constraint)b) What is Ernie’s utility at this optimal bundle?c) Why is it the case that at the optimal bundle Ernie is using Verizon (the more expensive service)? Whywould he not spend all his money on AT&T (the less expensive ser

Order Solution Now

Our Service Charter

1. Professional & Expert Writers: Executive Papers only hires the best. Our writers are specially selected and recruited, after which they undergo further training to perfect their skills for specialization purposes. Moreover, our writers are holders of masters and Ph.D. degrees. They have impressive academic records, besides being native English speakers.

2. Top Quality Papers: Our customers are always guaranteed papers that exceed their expectations. All our writers have +5 years of experience. This implies that all papers are written by individuals who are experts in their fields. In addition, the quality team reviews all the papers before sending them to the customers.

3. Plagiarism-Free Papers: All papers provided by Executive Papers are written from scratch. Appropriate referencing and citation of key information are followed. Plagiarism checkers are used by the Quality assurance team and our editors just to double-check that there are no instances of plagiarism.

4. Timely Delivery: Time wasted is equivalent to a failed dedication and commitment. Executive Papers is known for timely delivery of any pending customer orders. Customers are well informed of the progress of their papers to ensure they keep track of what the writer is providing before the final draft is sent for grading.

5. Affordable Prices: Our prices are fairly structured to fit all groups. Any customer willing to place their assignments with us can do so at very affordable prices. In addition, our customers enjoy regular discounts and bonuses.

6. 24/7 Customer Support: At Executive Papers, we have put in place a team of experts who answer all customer inquiries promptly. The best part is the ever-availability of the team. Customers can make inquiries anytime.