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Individual whose preferences are described

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Consider an individual whose preferences are described by the utility function is U = X0.5Y0.5. If she consumes 2 units of X and 8 units of Y, then some level of utility will be experienced. If the individual instead consumes 4 units of X, how much of good Y must she consume in order to attain the level of utility associated with 2 units of X and 8 units of Y?

  • Y = 1
  • Y = 2
  • Y = 3
  • Y = 4
  • Y = 5
  • Y = 6

Reference no: EM131252210

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