Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

Would you please review this question and let me know if answer (A) is correct.

If an individual's utility function is given by U(xy) = x0.4y0.6 and I = 200, px = 2,py = 3, his or her preferred consumption bundle will be:

a. (60, 80 over 3)

b. (70, 20)

c. (40, 40)

d. (10, 60)

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M93080783
  • Price:- $10

Priced at Now at $10, Verified Solution

Have any Question?


Related Questions in Business Economics

Companies persue closer coordination and collaboration with

Companies persue closer coordination and collaboration with channel suppliers to better address customer needs inorder to 1) Develop human resource management activities that improve the skills, expertise and knowledge o ...

The tobacco industry is a prime example to consider when

The tobacco industry is a prime example to consider when talking about price elasticity of demand. While nicotine use can be addictive for many users, it is not addictive for the so-called "social smokers". What can we s ...

In an inquiry into the nature and causes of the wealth of

In an inquiry into the nature and causes of the wealth of nations, Adam Smith listed three reasons for productivity to increase with specialization. What are these three reasons?

What is the result of a price ceiling and why do some

What is the result of a price ceiling? And why do some consumers tend to favor price ceilings and others tend to oppose it?

Why are ideas of modernization cohn 107 and progress so

Why are ideas of "modernization" (cohn, 107) and "progress" so important to the post-World War II

If i am given the following functions for supply amp

If I am given the following functions for supply & demand Demand: P = 50 -.25Q Supply: P = 0.1Q What would the competitive market equilibrium be if the government imposes a subsidy of $6.

In a survey ofnbsp3153nbspadultsnbsp1407nbspsay they have

In a survey of 3153 adults, 1407 say they have started paying bills online in the last year. Construct a? 99% confidence interval for the population proportion. Interpret the results. A? 99% confidence interval for the p ...

The time spent in days waiting for a heart transplant can

The time spent (in days) waiting for a heart transplant can be approximated by a normal distribution.  Day range of 60-200.  u=129 o=20.2.  (a) What is the shortest number of days spent that would put a patient in the to ...

What is the central limit theorem why does it make the use

What is the Central Limit Theorem? Why does it make the use of the common inferential tools possible even if the raw data is not distributed normally?

Pure gasoline has an energy density of 115600 btu per

Pure gasoline has an energy density of 115,600 BTU per gallon, while ethanol has an energy density of 75,670 BTU per gallon. Gasoline cost $3.70 per gallon. What would the price of E85 (85% ethanol, 15% gasoline) have to ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As