The utility that Divesh obtains by consuming X and Y is given by U(X,Y)=5X2/3Y1/3. The price of X is $12, the price of Y is $1, and income is $48. Which two equations characterize Divesh's optimal consumption bundle? A) 4X+48Y=48 (1/3)Y=(2/3)X B) 12X+Y=48 (1/3)Y (2/3)X
The utility that Divesh obtains by consuming X and Y is given by U(X,Y)=5X2/3Y1/3. The price of X is $12, the price of Y is $1, and income is $48. Which two equations characterize Divesh's optimal consumption bundle? A) 4X+48Y=48 (1/3)Y=(2/3)X B) 12X+Y=48 (1/3)Y (2/3)X
Chapter1: Making Economics Decisions
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![19) The utility that Divesh obtains by consuming X and Y is given by U(X,Y)=5X2/3Y1/3. The price of
X is $12, the price of Y is $1, and income is $48. Which two equations characterize Divesh's
optimal consumption bundle?
A) 4X+48Y=48
(1/3)Y=(2/3)X
B) 12X+Y=48
(1/3)Y=(2/3)X
C) 12X+Y=48
X=2Y
D) 12X+Y=48
Y=6X
E) 4X+48Y=48
X=2Y](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2592e050-b71d-4ec1-ae83-993993cc28b9%2Fa11419bb-4577-4dbb-a321-2d08506413ff%2Fx999h5i_processed.png&w=3840&q=75)
Transcribed Image Text:19) The utility that Divesh obtains by consuming X and Y is given by U(X,Y)=5X2/3Y1/3. The price of
X is $12, the price of Y is $1, and income is $48. Which two equations characterize Divesh's
optimal consumption bundle?
A) 4X+48Y=48
(1/3)Y=(2/3)X
B) 12X+Y=48
(1/3)Y=(2/3)X
C) 12X+Y=48
X=2Y
D) 12X+Y=48
Y=6X
E) 4X+48Y=48
X=2Y
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