Question
N6 Verity has a utility function U(x,y) = 0.5x + y, and her income is exactly $96. Let the price of good x be $12
N6
Verity has a utility function U(x,y) = 0.5x + y, and her income is exactly $96. Let the price of good x be $12 and assume that the price of good y is $10. Verity's optimal basket is then (x*,y*) =
Group of answer choices
(8,0)
(4,4.8)
(2,7.2)
(0,9.6)
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Macroeconomics
Authors: Stephen d. Williamson
5th Canadian edition
133847144, 9780134604794 , 978-0133847147
