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Utility Steak

Utility Steak
Utility Steak
Question Regarding Indifference Curves, Budget Constraints, and Consumer Choce?

Ms. Peachy buys two goods, Steak (Y) and Potatoes (X). Her Utility function is U=(S^2/5)(P^3/5). She has a weekly budget of 100 dollars; steak costs 2 dollars per unit and potatoes cost 1 dollar per unit. How much does she spend on Steak and Potatoes?

Calculate the marginal rate of substitution (dU/dS / dU/dP) and set it equal to the slope of the budget line (aka the price ratio or 2/1). You will get an equation that is still in terms of the two variables (S & P), so use the budget line equation 2S+1P=100 to solve for one of them then plug that into the budget equation to get the other.



RADA S06 Six Steak Utility Knives Gift Set
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Ginsu 04817 International Traditions 14-Piece Knife Set with Block, Natural Ginsu 04817 International Traditions 14-Piece Knife Set with Block, Natural

List Price: $49.99

 

Description

Many associate Ginsu knives with the product’s kitschy infomercial from the ‘70s that begins with a karate kick to a watermelon and proceeds with a demo of these knives cutting through just about anything in the house...

Features

  • Set includes 7 Kitchen Knives, 6 Steak Knives, and natural colored hardwood block
  • Symmetrically-cut, two-dimensional serrated edges for precision slicing
  • Stainless-Steel Blades never Needs Sharpening
  • Full tangs triple-riveted to bakelite handles
  • For left- or right-handed use; limited lifetime guarantee
J.A. Henckels International Forged Premio 13-Piece Block Set J.A. Henckels International Forged Premio 13-Piece Block Set

List Price: $324.00

 

Description

Forged Premio is fully forged, and has a high quality satin finish stainless Steel Blade, with a Full Tang 3 rivet handle. There is a metal end cap with the Henckels International Logo. Each blade is fully forged for better balance and comfort...

Features

  • Full tang extends the length of the knife,?adding balance and strength
  • Triple-riveted, ergonomic?handle ensures comfort and control
  • Satin-finish, Stainless Steel blade provides precise cutting, peeling and slicing
  • Metal end cap displays the JA Henckels International logo
  • Dish washer safe
Miracle Blade III 91M3RBXST2 Perfection Series 11-Piece Cutlery Set Miracle Blade III 91M3RBXST2 Perfection Series 11-Piece Cutlery Set

List Price: $29.99

 

Description

The Miracle Blade Iii 11-pc. Knife Set is a multi-purpose collection of ultra durable kitchen tools. Crafted with revolutionary comfort handles and a unique 3-in-1 blade edge. These durable knives make quick work for meal preparation...

Features

  • 11 Piece Set
  • High-quality German stainless-steel blades; never dull--no need for sharpening
  • Comfortable composite handles offer a safe, secure, slip-free grip
  • Also includes Tips & Guide booklet with Chef Tony recipes
  • Dishwasher-safe for quick cleanup; Lifetime Warranty
Caterpillar 91-C6405274 Oak Tone Steak Knfe Set Caterpillar 91-C6405274 Oak Tone Steak Knfe Set

 

Features

  • Limited Lifetime Warranty
  • Oak tone handles with CAT engraving.
  • Partially serrated stainless blades.
  • Dishwasher Safe
  • Restaurant quality Jumbo Steak knives.
Blackie Collins Designed Maxam Patented Assisted Opening Razor Knife Glass Filled Nylon Handle Blackie Collins Designed Maxam Patented Assisted Opening Razor Knife Glass Filled Nylon Handle

List Price: $33.98

 

Description

Blackie Collins Designed Maxam Patented Assisted Opening Razor Knife Glass Filled Nylon Handle

Features

  • Blackie Collins Designed Maxam Patented Assisted Opening Razor Knife.
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  • Patented blade retention mechanism requires no tools for changing blades.
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Mercer Cutlery Genesis 6-Piece Knife Set with Tempered-Glass Block Mercer Cutlery Genesis 6-Piece Knife Set with Tempered-Glass Block

List Price: $300.00

 

Description

A supplier to the vast majority of cooking academies, Mercer Cutlery offers the Genesis Collection of kitchen knives to provide professional quality to the home chef. Comfortable, durable, and efficient, Genesis knives feature fully forged, single-piece blades made from high-carbon, no-stain German steel...

Features

  • 6-piece Genesis Collection Knife Block set with tempered glass block
  • Includes: 3-1/2-Inch Paring, 5-inch utility, 8-inch chef's, 8-inch bread, 6-inch boning, and glass knife block
  • Single-piece forged German steel for a high-carbon, no-stain blades
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List Price: $51.58

 

Description

Beautifully shaped stainless handles are ergonomically designed to fit smoothly into your hand Knife blocks are made of richly grained hardwood and are designed to protect your fine cutlery.Set includes 8" slicer, 6" chef's knife, 4...

Features

  • 10pcBakeliteCutlerySet.
  • Commercial quality, stain and rust resistant Japanese 420J2 stainless steel.
  • Symmetrical designed serrated blades never need sharpening.
  • Beautifully shaped stainless handles are ergonomically designed to fit smoothly into your hand.
  • Knife blocks are made of richly grained hardwood.
Steak Belt Buckle Steak Belt Buckle

 

Description

This "Steak" Belt Buckle Measures:3 7/8" by 2 1/4" 

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