Karen has perfect complement preferences over toothbrushes B and toothpaste P, with the associated utility function U(B,P) = min (3B, 2P). Suppose the price of a toothbrush is $6, the price of toothpaste is $4 a tube, and she has $72 to buy her entire year's supply of toothbrushes and toothpaste. How many toothbrushes and tubes of toothpaste will she buy?
Karen has perfect complement preferences over toothbrushes B and toothpaste P, with the associated utility function U(B,P) = min (3B, 2P). Suppose the price of a toothbrush is $6, the price of toothpaste is $4 a tube, and she has $72 to buy her entire year's supply of toothbrushes and toothpaste. How many toothbrushes and tubes of toothpaste will she buy?
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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Karen has perfect complement preferences over toothbrushes B and toothpaste P, with the associated utility function U(B,P) = min (3B, 2P). Suppose the price of a toothbrush is $6, the price of toothpaste is $4 a tube, and she has $72 to buy her entire year's supply of toothbrushes and toothpaste. How many toothbrushes and tubes of toothpaste will she buy?
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