Find the demand curves for U(x,z) if the utility function is
a.) U(x,z)=(x0.5+z0.5)2
b.) U(x,z)= 10x0.5+z
Please show all algebra work, the algebra is confusing me as I work through these two problems!! :)
Find the demand curves for U(x,z) if the utility function is a.) U(x,z)=(x0.5+z0.5)2 b.) U(x,z)= 10x0.5+z...
Select the function that represents the marginal utility of X for the utility function: U-X0.5 Y0.25 Select one: a. 0.25X-0.5 y0.25 b. 0.5X-0.5 y0.25 c. 0.5x0.5 y0.25 d. 0.25X 0.5 v-0.25 e. 2X-0.5 y025
Suppose the following equations represent an individual’s utility maximization problem: U(X,Y) = X0.5 + Y0.5 And the budget constraint is: I = PxX + PyY (a) Set up the individual’s maximization problem using the Lagrange technique. (b) Find the individual’s demand function for X and Y (Derive from first order condition). (c) Find the indirect utility function. (d) Find the expenditure function. (e) Find the share of X and Y on expenditure. (f) Find the marginal utility of income.
(a) Derive the demand functions for the utility function U=(a)sqrt(x)+(b)sqrt(z) +xz (b) Let a = 2, b = 3, px = 1, pz = 2, and Y = 50. Find the optimal values for x and z.
8. Problems 3.8 k1/6 Suppose indifference curves for a utility function U are given by z --kısx-usy-As. The utility function U k associated with these indifference curves is Suppose indifference curves for a utility function U are given by y 0.51/x2 - 4 (x2-k) -0.5x The utility function U k associated with these indifference curves is Suppose indifference curves for a utility function U are given by z-- 2x The utility function U k associated with these indifference curves is
Joyce's utility function is as follows: U= 10X2Y3 Where, X, is the quantity of good X consumed, Y, is the quantity of good Y consumed and, U, is Joyce's utility function. The general budget constraint for the two goods is a follow: B=PxX + PYY A. Derive Joyce's Marshallian demand equation for good X. Also compute her demand for good X when B= 500, and the price of good X is 1 and 2. Also draw the Marshallian demand curve...
Let x and y denote the amount of goods x and y. The utility is a function of x and y. For each utility function, find the individual demand function. U = x + xy *I know how to set up this problem, Can you please show me how to do the correct algebra and simplifying.
3) A consumer's utility function is u(x,y)22 (a) Find the consumer's optimal choice for x, y as functions of income I and (b) Sketch the demand curves for x, y as functions of income I when prices prices pa,Py. (Be careful!) are p 16,Py 2. (Be careful!)
uppose that a consumer's utility function is U, where x and y are goods and z is a bad (e.g. pollution, so that more pollution decreases utility of the consumer). If consumption of x and z is growing at a rate of 2% and 3%, respectively, and that of y declines at 196, what is the growth rate in the utility the consumer derives from that consumption? Use total differentiation and show all your work/steps.
how to find indirect utility function here?
Jeanette has the following utility function: U-ain(x) + b*In(y), where a+b=1 a) For a given amount of income I, and prices Px, Py, find Jeanette's Marshallian demand functions for X and Y and her indirect utility function. (6 points)
Derive the demand curve for good X for the utility function U=3X^4Y^2. Show your work.