Question
11) Rocky has 40 unit of labor on an island, which he can use in the production functions x = 0.5Lx & y= 2Ly. If
11) Rocky has 40 unit of labor on an island, which he can use in the production functions x = 0.5Lx & y= 2Ly. If rocky has the utility function u(x,y) = xy, then his optional basket is (x,y) =
(8, 48)
(10,40)
(14.4,32.6)
(16,16)
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
2nd edition
1464187029, 978-1464189104, 1464189102, 978-0716759751, 716759756, 978-1464187025
