Question
Ezekiel has a Cobb-Douglas utility function U=X^1/2Y^1/2. If the price of good X is $10 and the price of good Y is $5, and he
Ezekiel has a Cobb-Douglas utility function U=X^1/2Y^1/2. If the price of good X is $10 and the price of good Y is $5, and he consumes 8 units of good X, how many units of good Y does he consume? Show your reasoning.
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International Business
Authors: Michael Czinkota, Iikka A. Ronkainen, Michael H. Moffett
8th edition
470530658, 470530650, 978-0470530658
