2. The consumer utility function has the following form: TU(Qx, Qy)=QxQy Knowing that the prices of goods X and Y are equal to 1 and 2 respectively, and the income is 40. What is the optimal consumption of both goods?

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Chapter6: Consumer Choice And Demand
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2. The consumer utility function has the following form:
TU (Qx, Qy)=QxQy
Knowing that the prices of goods X and Y are equal to 1 and 2 respectively, and the income is 40. What is the optimal
consumption of both goods?
lint if the price function is P = 100-2Q and the total cost
Transcribed Image Text:2. The consumer utility function has the following form: TU (Qx, Qy)=QxQy Knowing that the prices of goods X and Y are equal to 1 and 2 respectively, and the income is 40. What is the optimal consumption of both goods? lint if the price function is P = 100-2Q and the total cost
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