How Many Strawberries and Ice Cubes Does Monet Need for His Smoothies?

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In summary, Monet is a first year graduate student who spends all his weekly salary on buying strawberries and ice for his stress-release activity of making strawberry smoothies. To make a perfect smoothie, he needs to put 10 strawberries and 5 cubes of ice per cup. His weekly salary is $10 and the prices of strawberries and ice are $0.5 and $0.2 respectively. To find the optimal combination of strawberries and ice, Monet needs to solve the equation Y = 0.5S + 0.2I = 10, where Y is his income, S is the number of strawberries, and I is the number of ice cubes. The indifference curve for strawberries and ice will intersect at points (
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Homework Statement



"Monet is a first year graduate student and he receives a weekly salary from his teaching assistant job on campus. His stress–release activity is to make strawberry smoothies. Therefore he spends all his weekly salary for buying strawberries and ice. In order to make a perfect smoothie, he needs to put 10 strawberries and 5 cubes of ice per cup of smoothie. The price of a strawberry is $0.5 and the price of a cube of ice is $0.2. His weekly salary is $10."

b. Draw one of Monet’s indifference curves for strawberries and ice and explain the economic intuition. (I think I got this one)

c. How many strawberries and ice cubes will Monet buy? Show the answer either graphically or mathematically. (please help here)

Homework Equations



Y(income)= Price of ice * ice + price of strawberries * strawberries

The Attempt at a Solution



10 = ? omg help

the intercepts will be 20 and 50
 
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To make n smoothies, how many strawberries and how many ice cubes does Monet need?
 

Related to How Many Strawberries and Ice Cubes Does Monet Need for His Smoothies?

What is microeconomics?

Microeconomics is a branch of economics that deals with the behavior of individual consumers and firms, and how their decisions affect the allocation of resources in the market.

What is the role of consumers in microeconomics?

Consumers play a crucial role in microeconomics as they are the ones who make decisions on what goods and services to purchase, how much to consume, and at what price. Their behavior and preferences drive the demand for products in the market, which in turn affects the prices and production levels of goods and services.

What factors influence consumer behavior in microeconomics?

Several factors can influence consumer behavior in microeconomics, including income, price, availability of substitutes, advertising, personal preferences, and external factors such as cultural norms and peer pressure.

How does microeconomics analyze consumer choices?

Microeconomics uses the concept of utility to analyze consumer choices. Utility refers to the satisfaction or pleasure that a consumer derives from consuming a good or service. Consumers are assumed to make rational decisions to maximize their utility, given their budget constraints and preferences.

What is the difference between microeconomics and macroeconomics?

The main difference between microeconomics and macroeconomics is their scope. While microeconomics focuses on the behavior of individual consumers and firms, macroeconomics looks at the economy as a whole, including factors such as inflation, unemployment, and economic growth. Microeconomics also deals with the allocation of resources, while macroeconomics studies the overall performance and policies of the economy.

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