Business, 03.02.2020 23:45 25linm

Lily wants to maximize her benefit of consuming apples and bananas, given her fixed budget of $10 for these two fruits. the price of an apple is $1, and the price of a banana is $0.50. in order to derive lily's demand curve for bananas, we need to a. draw a downward sloping line with slope of -1 b. draw a downward sloping line with slope of -2 c. solve the buyer's problem for her multiple times and find the optimal number of bananas, when price of a bananas is at a different level each time d. solve the buyer's problem for her once, and find the optimal number of bananas, when price of a bananas is $0.50

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Lily wants to maximize her benefit of consuming apples and bananas, given her fixed budget of $10 fo...

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