Question: Question 4. (10 points) A consumer has the utility function U(X,Y) = X0.25 Y0.75. Her income is $60000 and she faces prices Px=5 and Py=9.

Question 4. (10 points) A consumer has the utility function U(X,Y)

Question 4. (10 points) A consumer has the utility function U(X,Y) = X0.25 Y0.75. Her income is $60000 and she faces prices Px=5 and Py=9. Would this consumer prefer to be taxed on good Y at $1 per unit or a revenue equivalent income tax. Illustrate your

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10. How much time does it take between when we collect information until it is used in decision-making?

2. Ask questions, listen rather than attempt to persuade.

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