54 623
Assignments Done
98,2%
Successfully Done
In November 2017
Your physics homework can be a real challenge, and the due date can be really close — feel free to use our assistance and get the desired result.
Be sure that math assignments completed by our experts will be error-free and done according to your instructions specified in the submitted order form.
Our experts will gladly share their knowledge and help you with programming homework. Keep up with the world’s newest programming trends.

Answer on Microeconomics Question for Tips

Question #35437
Suppose that there are two goods, X and Y . Thomasíutility function is
U = XY + X. The price of X is P, and the price of Y is $40. Income is
$200. Derive his individual demand for X as a function of P.
Expert's answer
Suppose that there are two goods, X and Y. Thomas utility function is
U = XY + X. The price of X is P, and the price of Y is $40. Income is
$200. Derive his individual demand for X as a function of P.

Income function is: I = Px*X + Py*Y = 200
P*X + 40Y = 200
The individual demand for X as a function of P will be:
Qd = (200 - 40Y)/P

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question