Question
Suppose that Darrell consumes both beer and tomatoes. His utility function is given by the following: u left parenthesis b comma t right parenthesis equals
Suppose that Darrell consumes both beer and tomatoes. His utility function is given by the following: u left parenthesis b comma t right parenthesis equals b to the power of 1 half end exponent t to the power of 2 over 3 end exponent. If the price of beer is $2, the price of a package of tomatoes is $8, and he has $56 in income, what is the number of tomatoes at the optimal consumption bundle?
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The Business of Tourism Management
Authors: John Beech, Simon Chadwick
1st edition
273688013, 273688014, 9781405871631 , 978-0273688013
