Question
Dylan consumes pizza (Z) and burritos (B). His utility function is given by U(B, Z) = BZ and his budget is W = PBB +
Dylan consumes pizza (Z) and burritos (B). His utility function is given by U(B, Z) = BZ and his budget is W = PBB + PZZ where W is his wealth level and PB and PZ are the prices of burritos and pizza, respectively. Can you think of any reasonable restrictions on the range of PB and PZ? What about and ?
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Essays In Economic Sociology
Authors: Max Weber, Richard Swedberg
1st Edition
0691218161, 9780691218168
