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Suppose Vivian has a utility function of U=X0.4y0.0, where X and Y are two goods. The prices for X and Y are $4 and
Suppose Vivian has a utility function of U=X0.4y0.0, where X and Y are two goods. The prices for X and Y are $4 and $6, respectively. She has $100 in her pocket. Find the optimal quantities of X and Y when Vivian has achieved her maximal utility level, given her budget constraint.
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
1st Edition
978-1464146978, 1464146977
