Posted by **jon** on Thursday, September 20, 2007 at 10:14pm.

Suppose a person has a utility function U=YX. What is the minimum level of income required to get a utility of 20? Your answer should be a function of, among other things, Px and Py.

## Answer This Question

## Related Questions

- microeconomics - Suppose a person has a utility function U=YX. What is the ...
- Economics - Luis’s utility function is u=x^.4y^.6 Suppose that Luis wants to get...
- Micro Economics - Briefly explain the following: (a)Economic cost and accounting...
- economics - 1.. Suppose that U(x; y) = min(x; y) with px = 1 and py = 1. ...
- Economics - Ive been stuck on this forever now if someone could please walk me ...
- Micro econ - 1: Suppose John had a utility function of U=X^2/3Y^1/3 . Derive ...
- Economics - If utility is U(x,y) = xy + y, what is the indirect utility function...
- Economics - If utility is U(x,y) = x^0.3 y^0.7 (i.e x* = 0.3I/Px and y* = 0.7I/...
- economics - Consider a consumer who has an experienced utility function given ...
- Economic - Suppose that Betsy’s utility function is given by the equation U=Y0.3...

More Related Questions