A. A consumer’s utiltiy function for goods x and y is U (x, y) = x + y. She has $30 of income and the price of good x is $2 while the price of good y is $3. 3. What is this consumer’s optimal consumption bundle?
A. A consumer’s utiltiy function for goods x and y is U (x, y) = x + y. She has $30 of income and the price of good x is $2 while the price of good y is $3. 3. What is this consumer’s optimal consumption bundle?
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section6.A: Indifference Curve Analysis
Problem 1SQP
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A. A consumer’s utiltiy function for goods x and y is U (x, y) = x + y. She has $30 of income and the price
of good x is $2 while the price of good y is $3.
3. What is this consumer’s optimal consumption bundle?
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