Question
5.)Given the following information: utility function is,U(x,y)= 4X^0.5 Y^0.5 price of good X is N$5, the price of good Y is N$10 and the consumer
5.)Given the following information: utility function is,U(x,y)= 4X^0.5 Y^0.5 price of good X is N$5, the price of good Y is N$10 and the consumer income N$400.
What is the level when the price of good X is N$5 and the price of good Y is N$10.
6.) Given the following information: utility function is , price of good X is N$5, the price of good Y is N$10 and the consumer income N$400.
What is the level when the price of good X is N$2.5 and the price of good Y is N$10,00.
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Microeconomics
Authors: David Besanko, Ronald Braeutigam
5th edition
1118572270, 978-1118799062, 1118799062, 978-1118572276
