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  • 27-02-2024
  • Business
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Suppose a consumer purchases only two goods, x and y, with her fixed income. She has the following utility function and income and faces these prices. U = x⁰.3 * y⁰.7, Px = Py = $3, I = $60
a) 3 units of x, 10 units of y
b) 6 units of x, 6 units of y
c) 10 units of x, 3 units of y
d) 5 units of x, 7 units of y

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