Mathematics
Mathematics, 18.05.2020 22:57, g0606997

An individual consumes products X and Y and spends $36 per time period. The prices of the two goods are $3 per unit for X and $2 per unit for Y. The consumer in this case has a utility function expressed as:

U(X, Y) = .5XY

a. Express the budget equation mathematically by plugging in the given information. Use capital letters and a single space between operators.

b. Determine the values of X and Y that will maximize utility.

c. Determine the total utility that will be generated per unit of time for this individual. (no decimals)

answer
Answers: 3

Other questions on the subject: Mathematics

image
Mathematics, 21.06.2019 16:20, johns2380
Under normal conditions, 1.5 feet of snow will melt into 2 inches of water. during a winter season high in the mountains, 301 feet of snow fell. how many inches of water will there be when the snow melts?
Answers: 1
image
Mathematics, 21.06.2019 18:30, chandranewlon
Agraphic designer created a logo on eight and a half by 11 inch paper. in order to be placed on a business card, the logo needs to be one and 7/10 inches by 2 and 1/5 in. what is the scale factor of the dilation
Answers: 1
image
Mathematics, 22.06.2019 01:30, katekayrodriguez10
Solve for the equation x. 2x + 22 = 4(x + 3)
Answers: 1
image
Mathematics, 22.06.2019 02:30, ImmortalEnigmaYT
Translate the algebraic expression shown below into a verbal expression. fraction with variable x in numerator and 6 in the denominator. the sum of six and some number the product of six and some number the quotient of some number and six the difference of six and some number
Answers: 1
Do you know the correct answer?
An individual consumes products X and Y and spends $36 per time period. The prices of the two goods...

Questions in other subjects:

Konu
Mathematics, 20.06.2021 02:00