Question
Max's utility function is U = 6XY, where the MUX= 6Y and MUY= 6X. The prices of good X and good Y are $12 and
Max's utility function is U = 6XY, where the MUX= 6Y and MUY= 6X. The prices of good X and good Y are $12 and $15, respectively. Suppose that Max's indifference curve is tangent to his budget constraint, where he is consuming 20 units of good X. How many units of good Y must Max be consuming?
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Managerial Economics and Organizational Architecture
Authors: James Brickley, Jerold Zimmerman, Clifford W. Smith Jr
5th edition
73375829, 978-0073375823
