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What income is required for you to achieve utility

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Reference no: EM132162718

Once again you've impressed your parents and because of your marks you have convinced them that your happiness as expressed by your utility function should be 125,000 utils. What income is required for you to achieve this utility when your utility function and the prices of Y and X are as follows:

TU = 10YX                                                                             (1)

PY = $10                                                                                                                                 (2)

PX = $2 

Optimal combination of Y and X:                                           _________Y and _________X

Income required to achieve 12,500,000 utils                                             $ _______________

Reference no: EM132162718

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