Question
Suppose that the consumption of two donuts and three glasses of cacao gives a utility of one to a consumer.Write down the consumer's utility function.Suppose
Suppose that the consumption of two donutsandthree glasses of cacao gives a utility of one to a consumer.Write down the consumer's utility function.Suppose that the consumer wants to maximize his utility.Find his demand functions for donuts and cacao given that a donut costs 6 and a glass of cacao 4. Suppose that the consumption of two donutsorof one glass of cacao gives a utility of one to a consumer.Note that there are other combinations of the two goods which also yield a utility of one to the consumer.Write down this consumer's utility function.Suppose that the consumer wants to maximize his utility.Find his demand functions for donuts and cacao given that a donut costs 6, a glass of cacao 4 and his income is 12.
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