5.1) Jane has RM500 a week to spend on clothing and food. The price of clothing is RM25 and the price of food is RM10. The clothing and food pairs in Jane's choice set include units of clothing and 5.2) Sue is maximizing her utility. Her MUx/Px = 10 and MUy = 40. Then the price of Y must be 5.3) Ted has $600 a week to spend on clothing and food. The price of clothing is $30 and the price of food is $5. What is the equation for Ted's budget constraint, assuming he spends his entire budget? units of food.

Microeconomics
13th Edition
ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Consumer Choice: Maximizing Utility And Behavioral Economics
Section: Chapter Questions
Problem 6QP
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5.1) Jane has RM500 a week to spend on clothing and food. The
price of clothing is RM25 and the price of food is RM10. The
clothing and food pairs in Jane's choice set include
units of clothing and
5.2) Sue is maximizing her utility. Her MUx/Px = 10 and MUy =
40. Then the price of Y must be
5.3) Ted has $600 a week to spend on clothing and food. The
price of clothing is $30 and the price of food is $5. What is the
equation for Ted's budget constraint, assuming he spends his
entire budget?
units of food.
Transcribed Image Text:5.1) Jane has RM500 a week to spend on clothing and food. The price of clothing is RM25 and the price of food is RM10. The clothing and food pairs in Jane's choice set include units of clothing and 5.2) Sue is maximizing her utility. Her MUx/Px = 10 and MUy = 40. Then the price of Y must be 5.3) Ted has $600 a week to spend on clothing and food. The price of clothing is $30 and the price of food is $5. What is the equation for Ted's budget constraint, assuming he spends his entire budget? units of food.
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