Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

hey could you please help me with this Question 9 (1 point) Clara consumes two goods, X and Y. Her utility function is given by

hey could you please help me with this

image text in transcribed
Question 9 (1 point) Clara consumes two goods, X and Y. Her utility function is given by u(X, Y) = (X + a)(Y + [9). Suppose that a=12 and b=6. The price of X is $8 and the price of Y is $6. She has income of $160 to spend. What is her optimal amount of Y? (Answer up to 2 decimal places.) Your

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting Chapters 1-12

Authors: David D Busch, Tracie Nobles

11th Edition

1133710190, 978-1133710196

More Books

Students also viewed these Economics questions

Question

What is the law of Prgnanz and how can it be illustrated?

Answered: 1 week ago

Question

What reward will you give yourself when you achieve this?

Answered: 1 week ago