Question
S 2 Wilson's utility function is U(a,b) = 3a + 2b, where U denotes utility, a is the number of units of commodity A that
S 2
Wilson's utility function is U(a,b) = 3a + 2b, where U denotes utility, a is the number of units of commodity A that Wilson consumes, and b is the number of units of commodity B that Wilson consumes. Suppose Wilson has $100 to spend on commodities A and B. Also suppose the unit price of A is $5 and the unit price of B is $10. How many units of A and how many units of B will Wilson purchase in order to maximize his utility?
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Algebra And Trigonometry Graphs And Models
Authors: Marvin Bittinger, Judith Beecher, David Ellenbogen, Judith Penna
6th Edition
0134179048, 9780134179049
