Jamini has $800 of income to spend on goods X and Y. The prices of goods X and Y are $200 and $10, respectively. Her utility function is U(X,Y) = X0.5Y0.5. How many units of good X does she purchase? How many units of good Y does she purchase? ( typed answer please!! No handwritten)
Jamini has $800 of income to spend on goods X and Y. The prices of goods X and Y are $200 and $10, respectively. Her utility function is U(X,Y) = X0.5Y0.5. How many units of good X does she purchase? How many units of good Y does she purchase? ( typed answer please!! No handwritten)
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 11SQ
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Jamini has $800 of income to spend on goods X and Y. The prices of goods X and Y are $200 and $10, respectively. Her utility function is U(X,Y) = X0.5Y0.5. How many units of good X does she purchase? How many units of good Y does she purchase?
( typed answer please!! No handwritten)
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