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Suppose a consumer has the utility function U(X,Y) = 6X^0.5Y^0.5 a) Determine an equation for a generic indifference curve (with utility ubar) b) Sketch the
Suppose a consumer has the utility function U(X,Y) = 6X^0.5Y^0.5
a) Determine an equation for a generic indifference curve (with utility ubar)
b) Sketch the indifference curve for ubar = 1800
c) Suppose this consumer has $60 in wealth, X costs $3 per unit, and Y costs $4 per unit. Solve for the consumer's optimal bundle.
Please show work
And give proper curve
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