Question: A consumer has$280 to spend on two commodities ,the first which costs #2per unit Ana the second $5 per unit unit .suppose that the utility
A consumer has$280 to spend on two commodities ,the first which costs #2per unit Ana the second $5 per unit unit .suppose that the utility derived by the consumer from x units of the first commodity and y units of the second commodity is given by the cobbdouglas utility functions asU(x,y)=100x0.25 y0.75,How many units of each commodity should the consumer buy to maximize utility?
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