Suppose an indwvidual had a uiliy funtion given by U - xoBY03, The price of Good...
1.Suppose a consumer had a utility function given by: U= 9X + 2Y. If the price of Good X (Px) is $8 and the price of Good Y is $4then what is the utility maximizing quantity of Good X the consumer will purchase with a budget of $32? 2. Suppose an individual had a utility function given by: U=X^4Y^0.6 Calculate this individual's Marginal Rate of Substitution (MRSxy) when they have a bundle with 3 units of Good X and 1.8...
Suppose an individual had a utility function given by: U -X0,6y0.8 Calculate this individual's Marginal Rate of Substitution (MRSxy) when they have a bundle with 3 units of Good X and 4 units of Good Y (Round to the nearest decimal place if necessary.)
Suppose an individual had a utility function given by: U -X0,6y0.8 Calculate this individual's Marginal Rate of Substitution (MRSxy) when they have a bundle with 3 units of Good X and 4 units of Good Y (Round to the nearest decimal place if necessary.)
Suppose an individual had a utility function given by: U=X^4*Y^1. Calculate this individual's Marginal Rate of Substitution (MRSxy) when they have a bundle with 5 units of Good X and 0.25 units of Good Y. (Round to the nearest decimal place if necessary.)
Suppose a consumer had a utlity function given by U- X04Y02. If the price of Good X (Px) is $8 and the price of Good Y is $16 then what is the utility maximizing quantity of Good X the consumer will purchase with a budget of $84? Round to the nearest decimal place if necessary) Answer Suppose an individual had a utility function given by U XY? Suppose that Bundle A contains 5 units of Good X and 5 units...
Suppose an individual had a utility function given by: -X4 Yi Calculate this individual's Marginal Rate of Substitution (MRSxy) when they have a bundle with 5 units of Good X and 0.25 units of Good Y (Round to the nearest decimal place if necessary.) 4yl Answer
Suppose an individual had a utility function given by: U=X^0.8Y^0.5. The price of Good X is $3 and the price of Good Y is $0.75. The individual has a budget of $29.25. Solve the optimization condition for Y given the values above and fill in the blank below.
Suppose a consumer had a utility function given by: U=X^4*Y. If the price of Good X (Px) is $6 and the price of Good Y is $2.40 then what is the utility maximizing quantity of Good X the consumer will purchase with a budget of $7.50? (Round to the nearest decimal place if necessary.)
Suppose a consumer had a utility function given by: U = X2Y0.5. If the price of Good X (Px) is $3 and the price of Good Y is $6 then what is the utility maximizing quantity of Good X the consumer will purchase with a budget of $18.75? (Round to the nearest decimal place if necessary.)
Suppose an individual had a utility function given by: U=X^0.4*Y^5. The price of Good X is $5 and the price of Good Y is $1. The individual has a budget of $472.50. Solve the optimization condition for Y given the values above and fill in the blank below. Y = ____ X?