Answer to Question #101627 in Microeconomics for umer

Question #101627

price of good x=12,price of good y=4,income of consumer 240
a)find the utility max of combination o x and y

Expert's answer

Px=12 and Py=4, income of consumer, I=240

The utility of max combination `UMC` is given by;

"I*UMC= Px\/Py"

UMC=3/240 =0.0125

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