Answer to Question #233448 in Macroeconomics for Juktashree Hazarik

Question

Suppose a consumers preferences can be represented by the utility function U(x,y)=X2Y .in the table below, identify 4 point s on the consumer s indifference curve where U=10000, find x,y

Answer 1

Considering the following utility function’ 

Utility (U) = X²Y 

 

Now when the utility is 10000, 

10000 = X²Y 

$Or, X= \sqrt{\frac{10000}{X}}$

 

The required equation is $X= \sqrt{\frac{10000}{X}}$