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A consumer has the following utility function: U (X, Y) = X^ 0.5 Y^0 .5 a) Find the demand function for good X, ie X
A consumer has the following utility function: U (X, Y) = X^0.5 Y^0.5 a) Find the demand function for good X, ie X (px, py, m), where px is the price of X, py is the price of Y and m is the income. b) Find and draw the angel basket for good X when the prices of both goods are 1 per unit. c) Find and draw the demand curve for good X when the income is 10 (and the price of good Y is 1)
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