Suppose That There Are Two Goods, X and Y

question 46

Multiple Choice

Suppose that there are two goods, X and Y. The utility function is The price of Y is $1 per unit and the price of X is P. The Hicksian demand curve for X for utility equal to 50,000 units is X = ____.

• A) 100P^-0.5
• B) 10P^-0.5
• C) 100P^0.5
• D) 10P

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Definitions:

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