Question

A utility function is given by Find the value of x2 if the points (64, 256) and (512, x2) lie on the same indifference curve.

Answer 1

1. X2, 64

64/2= 32

32/2= 16

16/2= 8

8/2= 4

4/2= 2

2/2= 1 ans.

2. X2, 256

256/2=128

128/2=64

64/2=32

32/2=16

16/2=8

8/2=4

4/2=2

2/2=1 ans.