Answer to Question #1259 in Microeconomics for Bulut
1. There are two types of perfect substitutes. The price of the 1st one is 30, the price of the other one is 60. The income is 1200. Which is the optimal consumer’s bundle?
2. The utility curve of Peter is U=x+y. What kind of goods are these? Please try to draw the indifference curves and describe the characteristics.