Sunday
November 23, 2014

Homework Help: Economics

Posted by Brett on Tuesday, September 18, 2007 at 7:58pm.

Ive been stuck on this forever now if someone could please walk me through it i was appreciate it:

1: Suppose John had a utility function of U=X^2/3Y^1/3 . Derive Johns demand function from his utility function showing all the necessary steps.

i know that the MUx=MUy and first i derive the equation to
2/3X^-1/3 1/3Y^-2/3

then im stuck i dont know what hes asking or how to simplify it do i just solve for X and Y? help please!

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Micro econ - 1: Suppose John had a utility function of U=X^2/3Y^1/3 . Derive ...
MICROECONOMICS - Hello ive been struggling with this problem for about 2 days ...
chemistry - a solution of 2.5 M weak acid is .52% ionized. what is the Ka value ...
economics - Suppose a person has a utility function U=YX. What is the minimum ...
Micro Economics - Briefly explain the following: (a)Economic cost and accounting...
chemistry - Can someone please explain the behavior of HCl/NaOH mixture as to ...
Econ-expected utility & insurance - John is a professional football player and ...
Criminal justice - Can someone please help. Who is responsible for the concept ...
economics - 1.. Suppose that U(x; y) = min(x; y) with px = 1 and py = 1. ...
economics - Suppose 15 peaches and 20 oranges need to be divided between fred ...

Search
Members