Question
1.Assume that good x is 8 ounce cans of espresso, and good y is 20 ounce bags of espresso.Alex (for real) only cares about ounces
1.Assume that good x is 8 ounce cans of espresso, and good y is 20 ounce bags of espresso.Alex (for real) only cares about ounces of espresso.Write down a utility function that describes Alex's consumer behavior.What is the slope of his indifference curves?
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Macroeconomics Principles And Policy
Authors: William J. Baumol, Alan S. Blinder
11th Edition
0324586213, 978-0324586213
