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Given the Utility function U(X,Y) = 8X + 8Y, where the MUx = 8 and MUy = 8 a)If income was 1,750, and the price
Given the Utility function U(X,Y) = 8X + 8Y, where the MUx = 8 and MUy = 8
a)If income was 1,750, and the price of X was 16.75 and Y was 3.00, How much utility would this consumer obtain given that he is maximizing utility ?
b)Illustrate 1 indifference curves for Utility equal to 170. Make sure to identify at least 3 sets of coordinates for the curve.
c)Obtain the demand function for Y.
NOTE: Show all your work, even if you get it wrong you may get points for work done.
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