Suppose that the utility function for two goods X and Y is given by U = x2y.
Question:
(a) Write the equation of the indifference curve for a consumer who purchases 6 units of X and 15 units of Y.
(b) If the consumer purchases 60 units of Y, how many units of X must be purchased to retain the same level of utility?
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a At x 6 and y 15 U 6 2 ...View the full answer
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Related Book For 
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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