Question #73833

Px = $2, Py = $1, and income of $15

Expert's answer

1) So, we have that Px = $2, Py = $1, and income of $15, then we get that

$2*Qx + $1 * Qy = $15, also MCx/MCY = $2/$1, so MCx =2* MCy , then also

Qx = 2*Qy.

2) $2*2*Qy + $1 * Qy = $15, wet get QY=3, Qx = 6.

$2*Qx + $1 * Qy = $15, also MCx/MCY = $2/$1, so MCx =2* MCy , then also

Qx = 2*Qy.

2) $2*2*Qy + $1 * Qy = $15, wet get QY=3, Qx = 6.

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