How much extra income would have to give, Microeconomics

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How much extra income would have to give

Paul Movie derives utility only from iTunes Songs (S) and DVDs (D). His utility function is given by

U = (SD)^1/2

Suppose Paul's roomate object to his music choices and require him only to buy equal numbers of songs and DVDs. Furthermore, suppose songs cost $11.8, DVDs cost $13.9 and Paul has an income of $220.8. If Paul's roomates wish Paul to accept their restrictions voluntarily, how much extra income would they have to give him to do so?

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Microeconomics: How much extra income would have to give

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Microeconomics: How much extra income would have to give

Reference No:- TGS063450

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : What is utility to buy equal numbers of songs and dvds

Q : Possible tax and economic implications

Q : Distinguish managerial accounting from financial accounting

Q : Value of gross private domestic investment

Q : How much extra income would have to give

Q : Opportunity cost of producing

Q : Costs related to housing

Q : What would be the amount of differential cost increase

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: How much extra income would have to give

Reference No:- TGS063450

Recent Questions Asked Microeconomics

Q : What is utility to buy equal numbers of songs and dvds

Q : Possible tax and economic implications

Q : Distinguish managerial accounting from financial accounting

Q : Value of gross private domestic investment

Q : How much extra income would have to give

Q : Opportunity cost of producing

Q : Costs related to housing

Q : What would be the amount of differential cost increase

Q : Early retirement of the bonds

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