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Consumers X and Y consume only two goods, nuts and berries. X's utility function is U ( Nx , Bx ) = NxBx .Y's utility
Consumers X and Y consume only two goods, nuts and berries. X's utility function isU(Nx,Bx) =NxBx.Y's utility function isU(Ny,By) = 2Ny+By. X is endowed with 3 units of berries and 8 units of nuts. Y is endowed with 6 units of berries and 8 units of nuts. In a competitive equilibrium for this economy, how many units of berries does consumer X consume?
a.
9.50
b.
7.50
c.
19.50
d.
12.50
e.
5.50
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