Question: Given the utility equation: U K = c K - 0 . 0 0 2 5 x 1 - 0 . 0 3 x 2

Given the utility equation: UK=cK-0.0025x1-0.03x2 for an urban area where x1 is the travel cost in cents and x2 is the travel time in minutes.
a) Calculate the market shares of the following travel modes. [10 points]
\table[[Mode (K),cK,x1,x2
Given the utility equation: U K = c K - 0 . 0 0 2

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