Does ben consume equal amounts of x and y

Assignment Help Econometrics

Reference no: EM13191904

Suppose Ben has a utility function U(x,y)= 4 * x^(0.5) * y^(0.8) The price of x is 2 dollars and the price of y is also 2 dollars. Explain WITHOUT USING ANY MATH AT ALL, just in a few words, which good is consumed more. Does Ben buy more x than y, or more y than x? Or does Ben consume equal amounts of x and y?

Reference no: EM13191904

Questions Cloud

Determine the irr : An investment of $10000 generates a net revenue of $15000 per year for 10 years with the salvage values $20000 is this a good investment at i = 10% annually also determine the IRR

Determine the value of the loan if the nominal rate given : monthly payments on a loan is $1000 for the next 10 years. Determine the value of the loan if the nominal rate 6% compounded monthly. if we want to pay the loan in 50 months what is the monthly payment

Find the probability that the player will get atmost 26 hits : If a baseball player's batting average is 32 %, find the probability that the player will get atmost 26 hits at 100 times at bat.

State dehydrohalogentation of tert-butyl chloride : Do the same to show the formation of both elimination products from 2-bromo-2methylbutane (page 208 lists the two products as 2-methyl-1-butene and 2-methyl-2-butene.)

Does ben consume equal amounts of x and y : Suppose Ben has a utility function U(x,y)= 4 * x^(0.5) * y^(0.8) The price of x is 2 dollars and the price of y is also 2 dollars. Explain WITHOUT USING ANY MATH AT ALL, just in a few words, which good is consumed more. Does Ben buy more x than y.

Why are timestamps used in the kerberos protocol : Why are timestamps used in the Kerberos protocol - When Alice is on a trip, she tries to store an important message in the CEO's account directory.

Which pair has equally likely outcomes : Which pair has equally likely outcomes? Check the two choices below which have equal probabilities of success. A standard deck of cards has 12 face cards and four Aces (Aces are not face cards).

Compute the atomic mass of the metal : the water level in the collecting vessel is the same as the outside level. Atmospheric pressure is 756.0 Torr and the temperature is 25 degrees C. Calculate the atomic mass of the metal.

Use the counting principle to determine the number : A mini license plate for a toy car must consist of a vowel followed by two numbers. Each number must be a 1 or 6. Repetition of digits is permitted.

User Account

All Pages