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3. An economy has 33 households that consume a given produce. Assume that we can represent household's preferences using a quasi-linear utility, nix) where x
3. An economy has 33 households that consume a given produce. Assume that we can represent household's preferences using a quasi-linear utility, nix) where x is the total of produce consumed. There are thirty common households consuming according to the utility function not) = 103: x: and three exceptional households with toot) = 100x i::. 1 a. (lpts) Drive a formula for the total market demand as a function of the market price
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