$4 then what is the Suppose a consumer had a utility function given by U-9x 2Y....
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 a consumer had a utility function given by: U= 9X + 4Y. If the price of Good X (Px) is $10 and the price of Good Y is $4 then what is the utility maximizing quantity of Good X the consumer will purchase with a budget of $10? (Round to the nearest two decimal places if necessary.)
Suppose a consumer had a utility function given by: U= 2X + 8Y. If the price of Good X (Px) is $7 and the price of Good Y is $5 then what is the utility maximizing quantity of Good X the consumer will purchase with a budget of $12? (Round to the nearest two decimal places 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 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 a consumer had a utility function given by: U=X^0.5*Y^0.2. If the price of Good X (Px) is $10 and the price of Good Y is $2 then what is the utility maximizing quantity of Good Y the consumer will purchase with a budget of $98 (Round to the nearest two decimal places if necessary.)
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 that Jim uses his budget to purchase 100 units of Good X and 100 units of Good Y. When the price of Good X rises, he purchases 55 units of Good X and 95 units of Good Y. An economist calculates his compensated budget and finds that in that scenario, Jim would buy 60 units of Good X and 105 units of Good Y Calculate the substitution effect Remember to include a negative sign (-) if the effect reduces...
suppose a consumer had a utility function given by: U-X075 Yo.8· lf the price of Good X (Ps) is $8 and the price of Good Y is $8 then what is the utility maximizing quantity of Good Y the consumer will purchase with a budget of $99.20? (Round to the nearest two decimal places if necessary.)
Suppose a consumer had a utility function given by: U=X0.5Y. If the price of Good X (Px) is $1 and the price of Good Y is $2 then what is the utility maximizing quantity of Good Y the consumer will purchase with a budget of $24?