Question
Suppose a consumer has the Utility Function U(X,Y)=4 X 0.5 Y 0.5 The Consumer has a budget of $150, the price of X is $5
Suppose a consumer has the Utility Function U(X,Y)=4X0.5Y0.5
The Consumer has a budget of $150, the price of X is $5 and the price of Y is $3.
Given this function and these values, the consumer should consume......... units of X and..........units of Y.
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International Business
Authors: Michael Geringer, Jeanne M. McNett, Michael S Minor, Donald A Ball
1st edition
78029376, 78029370, 1259317226, 978-1259317224
