4. A consumer has the utility function u(x,y) = 0.2x0.5y0.5. The price of x is $px and the price of y is $10. The consumer's income is $400. The consumer's demand for good x is (a.) 100/2px (b.) 400/4px (c.) 250/2px (d.) 200/px
4. A consumer has the utility function u(x,y) = 0.2x0.5y0.5. The price of x is $px and the price of y is $10. The consumer's income is $400. The consumer's demand for good x is (a.) 100/2px (b.) 400/4px (c.) 250/2px (d.) 200/px
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 3SQ
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Transcribed Image Text:4. A consumer has the utility function u(x,y) = 0.2x0.5y0.5. The price of x is $px and the price of y is $10. The
consumer's income is $400. The consumer's demand for good x is
(a.) 100/2px
(b.) 400/4px
(c.) 250/2px
(d.) 200/px
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