Solved

Darius's Utility Function Is U = 6XY, Where the MUX

Question 90

Essay

Darius'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 Darius'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 Darius be consuming?

Correct Answer:

verifed

Verified

MRSXY = PX/PY
...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents