Holly consumes commodities x and y and her utility function is U(x, y) = xy5. Good x costs $2 per unit and good y costs $1 per unit. If she is endowed with 7 units of x and 4 units of y, how many units of good y will she consume?
A) 7
B) 15
C) 19
D) 18
E) None of the above.
Correct Answer:
Verified
Q29: Heather and Myrtle have the same tastes.Heather
Q32: Wendy and Mac work in fast-food restaurants.
Q33: Georgina earns 6 dollars an hour. She
Q34: Donald consumes goods x and y. His
Q35: Mike Teevee likes to watch television and
Q36: Diana consumes commodities x and y and
Q38: Rhoda takes a job with a construction
Q40: Jackie's net demands for x and y
Q42: Henri is paid $9 an hour for
Q42: Mr. Cog has 18 hours per day
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents