3. Given utility function U= X0.5Y0.5 where PX = 12 Birr, Birr, PY = 4 Birr and the income of the consumer is, M= 240 Birr.
a. Find the utility maximizing combinations of X and Y.
b. Calculate marginal rate of substitution of X for Y (MRSX,Y) at equilibrium and interpret your result.
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
APPROVED BY CLIENTS
Finding a professional expert in "partial differential equations" in the advanced level is difficult.
You can find this expert in "Assignmentexpert.com" with confidence.
Exceptional experts! I appreciate your help. God bless you!
Comments
I like it.
Good
Thanks alot
Leave a comment