If the utility function of a particular consumer is U=X.Y, if you know that Px=2, Py=4, I=800 Find: 1. The quantity of X, Y that achieves the consumer's maximum satisfaction within the limits of his disnosable income2

If the utility function of a particular consumer is U=X.Y, if you know that Px=2, Py=4, I=800 Find: 1. The quantity of X, Y that achieves the consumer's maximum satisfaction within the limits of his disnosable income2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

URGENT PLEASE IN ONE HOUR

If the utility function of a particular
consumer is U=X.Y, if you know that
Px=2, Py=4, l=800
Find: 1. The quantity of X, Y that
achieves the consumer's maximum
satisfaction within the limits of his
disposable income?
2. Calculate the value of the benefit
realized at maximum saturation?

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