{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-21T07:06:44-04:00", "answer_date": "2024-06-21 07:06:44", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "3412387", "url": "\/study-help\/questions\/suppose-the-utility-is-given-by-u-square-root-3412387", "question_creation_date_js": "2024-06-21T07:06:44-04:00", "question_creation_date": "Jun 21, 2024 07:06 AM", "meta_title": "[Solved] Suppose the utility is given by U = squar | SolutionInn", "meta_description": "Answer of - Suppose the utility is given by U = square root x + square root y (where x and y denote quantities, the prices of x an | SolutionInn", "meta_keywords": "utility,square,root,x,+,y,denote,quantities,prices,=1,income,=12", "question_title_h1": "Suppose the utility is given by U = square root x + square root y (where x and y denote quantities, the prices of x", "question_title": "Suppose the utility is given by U = square root x +", "question_title_for_js_snippet": "Suppose the utility is given by U square root x square root y (where x and y denote quantities, the prices of x and y are P x P y 1 and income I 12 The optimal bundle has a quantity of 6 at x The optimal bundle has a quantity of 6 at y Good x undergoes a price shock where Px 2 Consider the optimal bundle after applying the substitution effect, but before the income effect The optimal bundle after the substitution effect has what quantity of x The optimal bundle after the substitution effect has what quantity of y ", "question_description": "

Suppose the utility is given by U = square root x + square root y (where x and y denote quantities, the prices of x and y are Px<\/sub>=Py<\/sub>=1 and income I=12.<\/p>

The optimal bundle has a quantity of 6 at x. <\/p>

The optimal bundle has a quantity of 6 at y.<\/p>

<\/p>

Good x undergoes a price shock where Px=2.<\/p>

<\/p>

<\/p>

Consider the optimal bundle after applying the substitution effect, but before the income effect:<\/p>

<\/p>

The optimal bundle after the substitution effect has what quantity of x?<\/p>

The optimal bundle after the substitution effect has what quantity of y?<\/p>", "transcribed_text": "", "related_book": { "title": "Financial Accounting in an Economic Context", "isbn": "9781118139424, 9781118139431, 470635290, 1118139429, 1118139437, 978-0470635292", "edition": "8th Edition", "authors": "Jamie Pratt", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/61.jpg", "uri": "\/textbooks\/financial-accounting-in-an-economic-context-8th-edition-61", "see_more_uri": "" }, "free_related_book": { "isbn": "979-8407615224", "uri": "\/textbooks\/i-love-stats-numbers-speak-to-me-1st-edition-979-8407615224-218248", "name": "I Love Stats Numbers Speak To Me", "edition": "1st Edition" }, "question_posted": "2024-06-21 07:06:44", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/show-that-cv-tvts-ptv-and-cp-", "description": "Show that cv = - T(v\/T)s (p\/T)v, and cp = T(p\/T)s (v\/T)P.", "stars": 3 }, { "url": "\/study-help\/marketing-strategy-\/to-make-a-sale-newspaper-advertising-must-instill-a-sense-1268248", "description": "To make a sale, newspaper advertising must instill a sense of urgency. 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