In the supplies tent of a camp, Amy was told that she could take as many flash lights and batteries as she needs for her team.
She found 3 flash lights and 8 batteries. If each flash light requires 3 batteries, what would she take? And how would the indifference curve for her rational choice look like? What would be the MRS? How would you write the utility function, and what would be the marginal utility for each item?
Get Answers For Free
Most questions answered within 1 hours.