Question
Janet consumes two commodities x and y. Her utility function is min { x+2y, y+2x}. She chooses yo buy 10 units of good x and
Janet consumes two commodities x and y. Her utility function is min { x+2y, y+2x}. She chooses yo buy 10 units of good x and 20 units of good y. What should be Janet's income, if the price of good x is $1?
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Econometric Analysis Of Cross Section And Panel Data
Authors: Jeffrey M Wooldridge, J M Wooldridge
2nd Edition
0262232588, 9780262232586
