Question:Consider a consumer with the utility function U(x, y) =2 min(3x,
5y), that is, the two...
Question
Consider a consumer with the utility function U(x, y) =2 min(3x,
5y), that is, the two...
Consider a consumer with the utility function U(x, y) =2 min(3x,
5y), that is, the two goods are perfect complements in the ratio
3:5. The prices of the two goods are Px = $5 and Py = $10, and the
consumer’s income is $330. At the optimal basket, the consumer buys
_____ units of y. The utility she gets at the optimal basket is
_____ At the basket (20, 15), the MRSx,y = _____.