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Maria only eats strawberries and bananas. The function Maria's utility is equal to U(x, y) = x 2 y 8 , where x and y
Maria only eats strawberries and bananas. The function Maria's utility is equal to U(x, y) = x2 y8, where x and y are the number of of strawberries and bananas consumed, respectively. Maria's income is 105, and the prices of strawberries and bananas are 1 and 3, respectively. How many strawberries and how many bananas will Maria consume?The demand function of a good is given by the relationship q = 750 - 75p where p price and q the quantity demanded. Calculate the price level that maximizes total revenue.
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