Question
A consumer has the following utility function u(x,y) = x 1/2 y 1/2 Where x is the number of visits to movie films and y
A consumer has the following utility function u(x,y) = x 1/2 y 1/2
Where x is the number of visits to movie films and y is the visits to theatres
Following conditions apply:
Budget constraint 60 during one period
Prices: px = 3 and py = 2
Calculate the number of movies that maximize utility
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The Business of Tourism Management
Authors: John Beech, Simon Chadwick
1st edition
273688013, 273688014, 9781405871631 , 978-0273688013
