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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 of Good Y Bundle B contains 10 units of Good Y and an unknown quantity of Good X Calculate the amount of Good X that would make the individual indifferent between Bundle A and Bundle B. Round to the nearest three decimal places if necessary)
$4 then what is the 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 utility maximizing quantity of Good X the consumer will purchase with a budget of $32? (Round to the nearest two decimal places if necessary) Answer 2
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