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A consumer has the utility function u(x,y) = xy and an income of $110. Let the price of x be $10 and the price of
A consumer has the utility function u(x,y) = xy and an income of $110. Let the price of x be $10 and the price of y be $2. The consumer is considering the basket (x,y) = (10,5). At this basket, with good x on the horizontal axis, the slope of the budget line is__ and the consumer's MRS is O -5; 1.5 O -5; 0.5 O -2.5; 1.5 O -2.5: 0.5A consumer has the utility function u(x,y) = x + y, and an income of $220. Let the price of x be $4 and the price of y be $2. In this case, the consumer's optimal basket is (x*, y*) = O (0,110) O (35,40) O (55,0) O (65,0)
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