A Consumer Has U = X⁰

question 118

Essay

A consumer has U = X^0.5Y^0.5 for a utility function, with MU_x = 0.5 X^-0.5Y^0.5 and MU_y = 0.5 X^0.5Y^-0.5. If she has income of $100, the price of X is $5, and the price of Y is $10, this consumer will use _____units of X and _____units of Y in equilibrium.

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Definitions:

Subjected To Frustration

The state of experiencing obstacles that prevent an individual from achieving desired goals, leading to feelings of dissatisfaction or stress.

Innocent Stranger

A concept or figure often used in literature and psychology to represent purity, naivety, or someone unaffected by corruption or moral blemishes.

Disinhibition

The reduction or removal of restraints on one's behavior, often leading to actions that are uninhibited by social norms or personal standards.

Cues For Aggression

Cues for aggression involve environmental, psychological, or social signals and triggers that may provoke aggressive behavior or responses in individuals.