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Unformatted text preview: = A(X)a (Y)b is known as a Cobb Douglas utility function.
When the utility level is fixed at 10 and X = 50, we need to search for Y, such that 500 .5 Y0 .5 = 10, or 50Y = 100.
Therefore, when the utility level is fixed at 10 and X = 50, Y = 100 / 50.
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This note was uploaded on 01/22/2014 for the course ECO 3352 taught by Professor Ax during the Fall '13 term at Troy.
- Fall '13