A consumer has S600 to spend on good x and y. Her preferences can be represented by the utility function U(x,y)= y+100 In x If the price of one unit of good x is $10 and the price of one unit of good y is $5, what is the consumer optimal bundle?

Economics (MindTap Course List)
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ISBN:9781337617383
Author:Roger A. Arnold
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Chapter20: Consumer Choice: Maximizing Utility And Behavioral Economics
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A consumer has $600 to spend on good x and y. Her preferences can be represented by the
utility function U(x,y)= y+100 In x
If the price of one unit of good x is Ș10 and the price of
one unit of good y is $5, what is the consumer optimal bundle?
Transcribed Image Text:A consumer has $600 to spend on good x and y. Her preferences can be represented by the utility function U(x,y)= y+100 In x If the price of one unit of good x is Ș10 and the price of one unit of good y is $5, what is the consumer optimal bundle?
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