Question
George has $49 which he decides to spend onxandy. Commodityxcosts $5 per unit and commodityycosts $11 per unit. He has the utility functionU(x,y)3x26y2and he can
George has $49 which he decides to spend onxandy. Commodityxcosts $5 per unit and commodityycosts $11 per unit. He has the utility functionU(x,y)3x26y2and he can purchase fractional units ofxandy. George will choose
- onlyy.
- some of each commodity but morexthany.
- onlyx.
- some of each commodity but moreythanx.
- equal amounts of the two commodities.
can you please explain why its only x.
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Managerial Economics and Organizational Architecture
Authors: James Brickley, Jerold Zimmerman, Clifford W. Smith Jr
5th edition
73375829, 978-0073375823
