3 If the price per unit of X = 10/- and price of Y (10 Marks)...

 

Transcribed Image Text:

3 If the price per unit of X = 10/- and price of Y (10 Marks) (10 Marks) a) Given the following utility function U = 4X = 5/- when the consumers budget is 300/-. Compute the maximumn utility. b) Briefly explain the assumptions and equilibrium in a Cournot mode 3 If the price per unit of X = 10/- and price of Y (10 Marks) (10 Marks) a) Given the following utility function U = 4X = 5/- when the consumers budget is 300/-. Compute the maximumn utility. b) Briefly explain the assumptions and equilibrium in a Cournot mode

Answer rating: 100% (QA)

A margianl utiltiy4x3y 4103555 constraint300 total ... View the full answer