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Lana's utility function is U(X,Y) = X0.25Y0.75, where good X is shown on the horizontal axis...

Lana's utility function is U(X,Y) = X0.25Y0.75, where good X is shown on the horizontal axis and good Y is shown on the vertical axis. What is the slope of her indifference curve when X = 1 and Y = 6?

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Answer #1

U= x 0.25 0.15 Mux = du/dx Hux = 6.25 x MUX = 0.25 (7) Muy = dolay Muy = 0.15 0.25y 0.2 - H 677 ) slope of in difference care

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