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6.8 Suppose Lan's utility function is UL(x,y) =xLØyL8 and Dan's utility function is Up(x,y) =xDⓇyo?, where x; and y; den
Posted: Wed Mar 09, 2022 8:31 am
by answerhappygod
- 6 8 Suppose Lan S Utility Function Is Ul X Y Xloyl8 And Dan S Utility Function Is Up X Y Xd Yo Where X And Y Den 1 (52.83 KiB) Viewed 38 times
6.8 Suppose Lan's utility function is UL(x,y) =xLØyL8 and Dan's utility function is Up(x,y) =xDⓇyo?, where x; and y; denote respectively the amount of good X and of good Y consumed by person i, i=L, D. A total of 34 units of each good is available and it is to be divided efficiently between Lan and Dan. Determine how many units of good Y should Lan get if we give Dan 17 units of good Y such that the allocation is efficient. Then enter the amount of good Y below. Answer: