Question
Marco consumes chicken (C) and rice (R) for his meals. The price of a unit of...
Marco consumes chicken (C) and rice (R) for his meals. The price of a unit of chicken is $6, and the price of a unit of rice is $2.
Jon's utility function is: U = (3C)*(2R)
Jon has $132 to spend on chicken and rice."
a) For U = 100, which of the following (C,R) points are on the indifference curve?
Group of answer choices
(30,20)
(10,35)
(4, 54)
(0,50)
b) Is the indifference curve linear or non-linear?
c) Determine Jon's optimal bundle of chicken and rice to consume, given his budget and utility function.
Enter Jon's optimal amount of rice to consume (enter as a numeric value).
Homework Answers
Answer #1
(b) IC is nonlinear
part a and c are attached below,
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