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Suppose Alex only cares about chai and bagels. Alex's utility function is (,) = 2 + 3, where is the number of bagels per day
Suppose Alex only cares about chai and bagels. Alex's utility function is (,) = 2 + 3, where is the number of bagels per day and is the number of cups of chai per day. (let be the " " good). o First, solve the consumer's constrained optimization problem if the price of chai is $3, the price of bagels is $1.50, and Alex has $6 to spend per day on chai and bagels. Illustrate this outcome on a graph
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