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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