Answer:
The answer is in the file below, I wasn't able to make it in text form.
I know this but I can't remember how to do the process.
Set up a proportion:
4.1/22 = 12.3/x
Cross multiply:
4.1 * x = 22 * 12.3
4.1x = 270.6
Divide 4.1 to both sides:
x = 66
Answer:
2 units of X and 5 units of Y
Step-by-step explanation:
(a) Utility is maximized when (MUx / Price of X) = (MUy / Price of Y)
This condition holds for the following cases
1. X = 4 (MUx / Px = 8 / 4 = 2) and Y = 6 (MUy / Px = 4 / 2 = 2)
2. X = 2 (MUx / Px = 16 / 4 = 4) and Y = 5 (MUy / Px = 8 / 2 = 4)
For the first case Total cost = 4 x $4 + 6 x $2 = $(16 + 12) = $28 (Budget is exceeded).
In the second scenario, Total cost = 2 x $4 + 5 x $2 = $(8 + 10) = $18 (budget is exhausted).
Optimal case contains X = 2 units, Y = 5 units.
Step-by-step explanation:
3x - x = 2x
2(x + 2) = 2x + 2
for every number of x, 2x + 2 would always be larger than 2x.
so there is no solution, since the given equation is 2x is greater than 2x + 2.