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For each of the following situations, find the utility maximizing basket. (a) I = 30, px = 1, py = 4, u (x, y) = 6x 1/3y 2/3 (b) I = 14, px = 7, pyl= 1, u (x, y) = 2x +3y (c) I = 78, px = 3, py = 6, u (x, y) = 4x 1/2 +y (d) I = 12, px = 3, py = 6, u (x, y) = 2x 2 + 8y 2 %3D

For each of the following situations, find the utility maximizing basket. (a) I = 30, px = 1, py = 4, u (x, y) = 6x 1/3y 2/3 (b) I = 14, px = 7, pyl= 1, u (x, y) = 2x +3y (c) I = 78, px = 3, py = 6, u (x, y) = 4x 1/2 +y (d) I = 12, px = 3, py = 6, u (x, y) = 2x 2 + 8y 2 %3D

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Please answer at least 1 st 4  I have no more question sir please. I will rate

Please help me find the utility maximizing basket (а-е) For each of the following situations, find the utility maximizing basket. (a) I= 30, px = 1, py = 4, u (x, y) = 6x 1/3y 2/3 %3D (b) I = 14, px = 7, pyl= 1, u (x, y) = 2x +3y (c) I = 78, px = 3, py = 6, u (x, y) = 4x 1/2 + y (d) I = 12, px = 3, py = 6, u (x, y) = 2x 2 + 8y 2 (e) I = 45, px = 3, py = 9, u (x, y) = 2xy- 18x %3D
Transcribed Image Text:Please help me find the utility maximizing basket (а-е) For each of the following situations, find the utility maximizing basket. (a) I= 30, px = 1, py = 4, u (x, y) = 6x 1/3y 2/3 %3D (b) I = 14, px = 7, pyl= 1, u (x, y) = 2x +3y (c) I = 78, px = 3, py = 6, u (x, y) = 4x 1/2 + y (d) I = 12, px = 3, py = 6, u (x, y) = 2x 2 + 8y 2 (e) I = 45, px = 3, py = 9, u (x, y) = 2xy- 18x %3D
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