Question
You are currently at the bundle (x,y) = (4,2) with a utility function U = 3/4ln(x) + 1/4ln(y). I offer you one additional unit of
You are currently at the bundle (x,y) = (4,2) with a utility function U = 3/4ln(x) + 1/4ln(y). I offer you one additional unit of x for 2 units of y. Do you make the trade with me? Explain.
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Managerial Economics
Authors: Paul Keat, Philip K Young, Steve Erfle
7th edition
0133020266, 978-0133020267
