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Exercise 2 Elmer's utility function is $ U(x, y)=\min \left\{x, y^{2}\right\} $ a. What is Elmer's utility if he consumes 4 units of $ x $ et 3 units of $ y ; 4 $ units of $ x $ et 2 units of $ y ; 5 $ units of $ x $ et 2 units of $ y $ ? b. What is Elmer's budget line equation when the price of good $ x $ is 1 , the price of good $ y $ is 2 and his income is 8 ? c. What is his optimal bundle at these prices and income? d. Suppose that the price of good $ x $ is 10 , the price of good $ y $ is 15 and Elmer buys 100 units of $ x $. What is his income?

          Exercise 2
Elmer's utility function is \( U(x, y)=\min \left\{x, y^{2}\right\} \)
a. What is Elmer's utility if he consumes 4 units of \( x \) et 3 units of \( y ; 4 \) units of \( x \) et 2 units of \( y ; 5 \) units of \( x \) et 2 units of \( y \) ?
b. What is Elmer's budget line equation when the price of good \( x \) is 1 , the price of good \( y \) is 2 and his income is 8 ?
c. What is his optimal bundle at these prices and income?
d. Suppose that the price of good \( x \) is 10 , the price of good \( y \) is 15 and Elmer buys 100 units of \( x \). What is his income?

$Exercise 2 Elmer's utility function is U(x, y)=min{x, y^2} a. What is Elmer's utility if he consumes 4 units of x et 3 units of y ; 4 units of x et 2 units of y ; 5 units of x et 2 units of y ? b. What is Elmer's budget line equation when the price of good x is 1 , the price of good y is 2 and his income is 8 ? c. What is his optimal bundle at these prices and income? d. Suppose that the price of good x is 10 , the price of good y is 15 and Elmer buys 100 units of x. What is his income?$

Added by Robert T.

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