r/HomeworkHelp•
crobow123

need econ help

Bob earns $3,000 per month on two goods, x and y, whose prices are $30 and $60 respectively. he is spending half his income on each good and maximizing his utility. How much of each good is he consuming?

i understand that in order for utility to maxed, MUx / Px = MUy/ Py

beyond this i am lost.

Posted Jul 10, 2012, 10:44 AM UTC

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