Posted by **Brett** on Wednesday, January 21, 2009 at 7:44pm.

2. Suppose Fred has a utility function of the form U = X ½ Y ½ . Fred has an income of $100, good X costs $1.00, and good Y costs $2.00. How much of good X and how much or good Y will Fred buy?

Ive already drawn my graph. i know that fred could buy 100 of x only and 50 of y only under his budget constraint. i know the slop is -2 but i cannot figure out how to calculate for good X and Y

thanks

## Answer This Question

## Related Questions

- ECONOMICS - Sorry, the last Question didn't post Suppose Fred has a utility ...
- ECON - Suppose Fred has a utility function of the form U = X ½ Y ½ . Fred has an...
- economics - Suppose 15 peaches and 20 oranges need to be divided between fred ...
- Economics - Suppose Fred and Ethel need to divide 20 pizza slices and 10 cans of...
- Math: - Fred’s net monthly income is $3933.12 Rental: $700 Car Payment: $363.75...
- 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. ...
- college Econ - Suppose Fred and Ethel need to divide 20 pizza slices and 10 cans...
- statistics - the average yearly utility costs on Middleton is $1722 with stdev ...
- Economics (Equilibrium) - Suppose fred ethel ricky and lucy have the following ...

More Related Questions