Question: exercise 3 Exercise 3. A consumer has preferences for x and y represented by the utility function U( x, y, z ) = x+ 2y.

exercise 3

Exercise 3. A consumer has preferences for x and y represented by the utility function U( x, y, z ) = x+ 2y. a) Using the Kuhn Tucker conditions, find the optimal bundle of this consumer when px = 2, py = 3 and pz = 6 and M = 36. b) Find the expression of this consumer's Marshallian demand x*(p, M) for generic prices px and py.and budget M

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