Suppose Gavriel's utility depends on the amount of time spent playing on Xbox (X) and the amount of time spent playing on PlayStation (Y) and his utility function is U (X,Y) = 6X0.4y0.6 He has 10 hours of free time to spend on these two activities each week, and his goal is to maximize his utility.

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Chapter1: Functions And Models
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Show step by step solutions. Find lagrange multiplier and equation for number of hours.
Suppose Gavriel's utility depends on the amount of time spent playing on Xbox (X)
and the amount of time spent playing on PlayStation (Y) and his utility function is
U (X,Y) = 6XU.4Y0.6 He has 10 hours of free time to spend on these two
activities each week, and his goal is to maximize his utility.
Given this, the Lagrange equation that will be used to compute for the utility-
maximizing amount of Y and X is L-
| Select
and the Lagrange
multiplier, m, of X= mY is Select]
This yields to the number of hours on PlayStation(Y) that will maximize her utility
given by the equation Select]
Transcribed Image Text:Suppose Gavriel's utility depends on the amount of time spent playing on Xbox (X) and the amount of time spent playing on PlayStation (Y) and his utility function is U (X,Y) = 6XU.4Y0.6 He has 10 hours of free time to spend on these two activities each week, and his goal is to maximize his utility. Given this, the Lagrange equation that will be used to compute for the utility- maximizing amount of Y and X is L- | Select and the Lagrange multiplier, m, of X= mY is Select] This yields to the number of hours on PlayStation(Y) that will maximize her utility given by the equation Select]
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