Posted by **jon** on Friday, September 21, 2007 at 9:19am.

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

- economics - Suppose a person has a utility function U=YX. What is the minimum ...
- Micro econ - 1: Suppose John had a utility function of U=X^2/3Y^1/3 . Derive ...
- Micro Economics - Briefly explain the following: (a)Economic cost and accounting...
- Economic - Suppose that Betsy’s utility function is given by the equation U=Y0.3...
- economics - 1.. Suppose that U(x; y) = min(x; y) with px = 1 and py = 1. ...
- Indifference Curves - For each example below, draw a set of three indifference ...
- Economics - Ive been stuck on this forever now if someone could please walk me ...
- marketing - how are: goods services utility form utility place utility time ...
- Microeconomics - 1. The utility function is given by: U=x+y and the budget line ...
- microeconomics - This week you have gone to two parties. Assume the total ...