Question
Asked Apr 7, 2019
66 views

q 14. suppose that MUx=10 and MUy=20. Furthur suppose that the consumer's budget constraint can be expressed as 20x+10y=400. For this consumer, the optimal amount of good x to buy would be.

check_circle

Expert Answer

Step 1

Utility:

The utility is the power or capacity of the goods and services ...

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in

Business

Economics

Related Economics Q&A

Find answers to questions asked by student like you

Show more Q&A add
question_answer

Q: 1-What is the general relationship between a country's price level and the quantitiy of it's domesti...

A: 1-What is the general relationship between a country's price level and the quantitiy of it's domesti...

question_answer

Q: please help

A: Production technologies or production function defines a relationship between the output and inputs....

question_answer

Q: The Federal Reserve System and Open Market Operations_ Ask FRED The accompanying graph depicts the v...

A: Mortgage Backed Securities: A mortgage-backed security is a kind of asset-backed agreement (a 'tool'...

question_answer

Q: Suppose that the dynamic aggregate demand curve in Swaziland is determined by the equation M + U-6%....

A: The quantity theory of money:The quantity theory of money equation can be written as follows:

question_answer

Q: Using the line drawing tool, graph the following two consumption functions 1000- C 3000.5Y 900- C 0....

A: The best way to do this is to calculate C0 = 300 + 0.5 Y and C1 = 0.5Y for all values of Y shown on ...

question_answer

Q: If the government increases its expenditure on goods and services and as a​ result, the money wage r...

A: When the governemtn increases the expenditure on goods and service, the agrregate demand in the econ...

question_answer

Q: 22. A firm uses labor and capital, (L,K), to produce an output. The hourly cost of labor is $10, and...

A: The isocost line can be written as follows:

question_answer

Q: Additional questions:Supposed you and your friends decide to rent the four bedroom apartment and sub...

A: Part -1.Average Fixed cost per roommate will be computed after arriving at Total fixed cost which is...

question_answer

Q: Cost and revenue The graph presents the short-run costs and revenue for a monopolistically competiti...

A: Monopolistically competitive market: Monopolistic market refers to the market structure in which the...