If the price of good a is p=10 and the price of good b is py=8, and the budget that the consumer has to spend is 40. Show how much of each good should the consumer buy if we define a utility function as Z=8nx+10lny. Express with a graph as well as mathematically.
If the price of good a is p=10 and the price of good b is py=8, and the budget that the consumer has to spend is 40.
Jul 14, 2021 | Hire us to write
