My orders
How it works
Examples
Reviews
Blog
Homework Answers
Submit
Sign in
How it works
Examples
Reviews
Homework answers
Blog
Contact us
Submit
Fill in the order form to get the price
Subject
Select Subject
Programming & Computer Science
Math
Engineering
Economics
Physics
Other
Category
Microeconomics
Finance
Accounting
Macroeconomics
Economics of Enterprise
Other
Deadline
Timezone:
Title
*
Task
*
The utility function of an individual is given by U=X^(3/4) Y^(1/4). The price of good x is K6 per unit. The price of good y is K3 per unit. The individual/s income is K120. (a).Using the Lagrangian method, find how much of each good the individual will consume to maximize utility. (8 MARKS) (b).Plot the budget line and include an indifference curve on the same diagram to show the optimal combination obtained above. (4 MARKS) (c).Mathematically prove that at the above optimal combination of goods, the slope of the budget line equals the slope of the indifference curve (4 MARKS)
I need basic explanations
Special Requirements
Upload files (if required)
Drop files here to upload
Add files...
Account info
Already have an account?
Create an account
Name
*
E-mail
*
Password
*
The password must be at least 6 characters.
I agree with
terms & conditions
Create account & Place an order
Please fix the following input errors:
dummy
