Max Has the Utility Function U(x, Y) = X(y

question 23

Essay

Max has the utility function U(x, y) = x(y + 1). The price of x is $2 and the price of y is $1. Income is $10. How much x does Max demand? How much y? If his income doubles and prices stay unchanged, will Max's demand for both goods double?

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Definitions:

Electrical Activity

The movement of electrically charged particles in a system, often referring to the activity within neurons or muscles.

CSF

Cerebrospinal Fluid; a clear, colorless body fluid found in the brain and spinal cord, crucial for cushioning and protecting the central nervous system.

Sensory Neurons

Nerve cells responsible for converting external stimuli from the environment into internal electrical impulses.

Dendrites

Branchlike extensions of neurons that receive electrical messages from other neurons.