Question
Assuming a consumer has a utility function and given by: u(x, y)=5lnx+3lny,if the budget Constraint is given by: 10x+14y+124. Calculate Find the optimal choice of
Assuming a consumer has a utility function and given by: u(x, y)=5lnx+3lny,if the budget
Constraint is given by: 10x+14y+124. Calculate Find the optimal choice of the consumer and Find the MRSxy at the optimal choice
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Managerial Economics and Strategy
Authors: Jeffrey M. Perloff, James A. Brander
2nd edition
134167879, 134167872, 9780134168319 , 978-0134167879
