Given through the consumer utility function: U=X1^0.6X2^0.25. Assume the prices of the respective goods are p1=8,p2=5($) and the income for consumption is m=680$. Determine the quantity demanded of each good if the consumer maximizes his utility

step-by-step explanation:

step 1: solve one of the equations for one of the variables. let's solve the first equation for y:

step 2: substitute that equation into the other equation, and solve for x.

step 3: substitute x = 4 x = 4 x=4 into one of the original equations, and solve for y.

false

step-by-step explanation:

the meaning of changing is to edit or make something different.

but transmitting means cause (something) to pass on from one place or person to another.

there 2 different things

all three statements are true

step-by-step explanation:

a shipping fee of 5% is charged online with every item purchased online

first let's just take each option and calculate them based on this, to see if the answers matched

keith buys a 40 dollar book

40 x 0.05 = 2

therefore there will be a two dollar fee on keith's book

40 + 2 =42

the first statement is true

a chair costs $80

80 x 0.05 = 4

80 + 4 = 84

the second statement is true

george buys a 20 dollar calculator

20 x 0.05 = 1

20 + 1 = 21

the third statements are true

all three statements are true