Consumer satisfaction from consuming goods X and Y is as follows: U=10X+14Y-X2-Y2 and consumer income 3X+Y=12 Look for: 1. The marginal utility function for goods X and Y? 2. What are the values of X and Y for maximum utility? 3. Prove with the results of X and Y obtained whether optimal customer satisfaction is achieved?
Consumer satisfaction from consuming goods X and Y is as follows: U=10X+14Y-X2-Y2 and consumer income 3X+Y=12 Look for: 1. The marginal utility function for goods X and Y? 2. What are the values of X and Y for maximum utility? 3. Prove with the results of X and Y obtained whether optimal customer satisfaction is achieved?
Chapter1: Making Economics Decisions
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Consumer satisfaction from consuming goods X and Y is as follows:
U=10X+14Y-X2-Y2 and consumer income 3X+Y=12
Look for:
1. The
2. What are the values of X and Y for maximum utility?
3. Prove with the results of X and Y obtained whether optimal customer satisfaction is achieved?
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