Answer to Question #114172 in Microeconomics for Junaid

Question #114172
at prices of rs 6 for a dvd and rs 4 for a coke bottle mike can afford to buy 6 dvds and 8 cokes with income 1 if mike is maximizing his utility at this bundle what is his income?
1
Expert's answer
2020-05-07T10:24:21-0400

Buget for this consumer is

"6d+4c=I"

Where d is dvd

c is coke

I is income

If he consumes 6 dvds and 8cokes the income is

"(6\u00d76)+(8\u00d74)=68"


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