Social Studies, 23.08.2021 19:10 simranhunjin
Suppose that the total utility function of a consumer is given by TU(x, y) = 3x2 y and the prices of X and Y are 1 Birr and 2 Birr per unit, respectively. If the income of the consumer is 600 Birr and if he spends all of his income on the consumption of commodities of X and Y, find the optimum amount of X and Y that the consumer will consume at equilibrium and find MRTSx, y.
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Suppose that the total utility function of a consumer is given by TU(x, y) = 3x2 y and the prices of...
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