Frank S Utility Function Is U X Y 7x 12y Frank Has A Budget Of 60 To Spend On Goods X And Y The Price Of Good X Is 1 (26.93 KiB) Viewed 17 times
Frank S Utility Function Is U X Y 7x 12y Frank Has A Budget Of 60 To Spend On Goods X And Y The Price Of Good X Is 2 (15.32 KiB) Viewed 17 times
Frank's utility function is U(X,Y)= 7X+ 12Y. Frank has a budget of $60 to spend on goods X and Y. The price of good X is $2 and the price of good Y is $4. How many units of good X and good Y does Frank purchase? OX= 30 and Y=0 OX=0 and Y = 15 OX= 10 and Y = 12 OX= 20 and Y = 7
For the production function Q(K, L) = K0.75 0.25 the marginal product of capital is: K-0.25 0.25 0.25K0.75 -0.75 O 0.75K-0.25 0.25 O 3K/L
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