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Leo's utility function is U=min (3x,9.1y). If Leo's income is 171.1 dollars, the price of good X is 4 and the price of good Y is 6.2, what is Leo's maximum utility?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Leo's utility function is U=min(3x,9.1y). If Leo's income is 171.1 dollars, the price of good X is 4 and the price of good Y is
6.2, what is Leo's maximum utility?

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