Question
Dominique has =$300 to spend on goods x1 and x2. Her utility function is given by U(x1,x2) = min{ 4x1, 3x2}. Good 1 costs 1
Dominique has =$300 to spend on goods x1 and x2. Her utility function is given by U(x1,x2) = min{ 4x1, 3x2}. Good 1 costs 1 =$5 per unit, and good 2 costs 2 =$9 per unit.
How much of good 1 does Dominique consume?
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International Economics
Authors: Dominick Salvatore
12th edition
9781118955727, 1118955765, 1118955722, 978-1118955765
