Question
Suppose that you have the following utility function U(X,Y)=(X^2)*(Y^2) and you have I=20, PX=2 and PY=. Given above prices, income and preferences, what is the
Suppose that you have the following utility function U(X,Y)=(X^2)*(Y^2) and you have I=20, PX=2 and PY=. Given above prices, income and preferences, what is the utility-maximizing level of X and y?
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Managerial Economics and Strategy
Authors: Jeffrey M. Perloff, James A. Brander
2nd edition
134167879, 134167872, 9780134168319 , 978-0134167879
