Essay
Max's utility function is U = 6XY, where the MUX = 6Y and MUY = 6X. The prices of good X and good Y are $12 and $15, respectively. Suppose that Max's indifference curve is tangent to his budget constraint, where he is consuming 20 units of good X. How many units of good Y must Max be consuming?
Correct Answer:
Verified
Correct Answer:
Verified
Q2: For the utility function U(X,Y) = 6X
Q3: Suppose that MU<sub>X</sub> = Y and MU<sub>Y</sub>
Q4: Suppose that Bruce cares only about barbecued
Q5: Use the following to answer question:<br>Figure 4.12
Q6: Suppose that Angie's MU<sub>X</sub> = Y<sup>2</sup> and
Q11: Use the following to answer question:<br>Figure 4.8
Q21: The consumer's utility function for goods X
Q72: Sonia says she prefers two theater tickets
Q114: Suppose that U = XY<sup>0.5</sup>. Which of
Q121: A consumer buys coffee (C) for $3