{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-12T12:09:55-04:00", "answer_date": "2024-06-12 12:09:55", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2803446", "url": "\/study-help\/questions\/problem-1-text-a-family-has-to-decide-how-much-2803446", "question_creation_date_js": "2024-06-12T12:09:55-04:00", "question_creation_date": "Jun 12, 2024 12:09 PM", "meta_title": "[Solved] Problem 1 Text: A family has to decide ho | SolutionInn", "meta_description": "Answer of - Problem 1 Text: A family has to decide how much of their monthly income to spend on good 1 and good 2. Suppose that th | SolutionInn", "meta_keywords": "problem,1,text,family,decide,monthly,income,spend,good,2,household,fixed", "question_title_h1": "Problem 1 Text: A family has to decide how much of their monthly income to spend on good 1 and good 2. Suppose that this", "question_title": "Problem 1 Text: A family has to decide how much of their", "question_title_for_js_snippet": "Problem 1 Text A family has to decide how much of their monthly income to spend on good 1 and good 2 Suppose that this household has a fixed income of $1800 per month Further, suppose that the price of good 1 is p1 $6 and the price of good 2 is p2 $3 Finally, suppose that the tastes of the household are described by the utility function ( 1 , 2 ), where denotes the quantity of good 1 and 2 the quantity of good 2 ", "question_description": "

Problem 1<\/strong><\/p>

Text: A family has to decide how much of their monthly income to spend on good 1 and good 2. Suppose that this household has a fixed income of $1800 per month. Further, suppose that the price of good 1 is p1=$6 <\/em>and the price of good 2 is p2=$3<\/em>. Finally, suppose that the tastes of the household are described by the utility function (1<\/sub>, 2<\/sub>), where denotes the quantity of good 1 and 2<\/sup><\/sub> the quantity of good 2.<\/p>", "transcribed_text": "", "related_book": { "title": "Public Finance A Contemporary Application of Theory to Policy", "isbn": "9781305474253, 1285173953, 1305474252, 978-1285173955", "edition": "11th edition", "authors": "David N Hyman", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/515.jpg", "uri": "\/textbooks\/public-finance-a-contemporary-application-of-theory-to-policy-11th-edition-515", "see_more_uri": "" }, "free_related_book": { "isbn": "978-1118654545", "uri": "\/textbooks\/taxation-for-decision-makers-2014-6th-edition-9781118654545", "name": "Taxation For Decision Makers 2014", "edition": "6th Edition" }, "question_posted": "2024-06-12 12:09:55", "see_more_questions_link": "\/study-help\/questions\/business-accounting-2024-September-21", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/why-might-a-firm-try-to-implement-a-tying-arrangement", "description": "Why might a firm try to implement a tying arrangement? 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