Question
Suppose a consumer's utility function is given by U(X,Y) = MIN(X,4Y).If PX= 1 and PY= 1, how much money would the consumer need to get
Suppose a consumer's utility function is given by U(X,Y) = MIN(X,4Y).If PX= 1 and PY= 1, how much money would the consumer need to get Utility =7?Round your answer to 2 decimal places.
M = __________
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Essentials of Business Driven Information Systems
Authors: Paige Baltzan, Amy Phillips
1st edition
1260004716, 978-0073376721
