Consumer Theory

[SoniaKapoor]

Suppose utility function is U=X^2+Y^2.
What kind of preferances are these?
How do we solve for optimal quantity for these functions?

[Akshay Jain]

dese r concave preferences.....indifference curves are concave to the origin...aolve dese lyke u do for perfect substitutes

[SoniaKapoor]

Thanks Akshay..
Suppose price of x is 1 and price of y is 2 then????
i"m not able to solve it.
Please help me Akshay..

[Akshay Jain]

[SoniaKapoor]

:):)Thank you so much Akshay...