Gina is at a toy store and is buying toy T-Rex's (x), which cost px, and toy yaks (y),which cost py. Her income is I. She likes 3 T-Rex's as much as she likes 4 yaks. Thesetoys are perfect substitutes for her. OSuppose now that there is no sale tax and paHow much money does Gina need to spend in order to achieve this utility?30604590=4 and Py-3. Gina's target utility is U = 60.

Given Gina likes 3 T-Rex's as much as she likes 4 yaks and T-Rex's ad Yaks are the perfect…

Answered: 30 Suppose now that there is no sale…

30 Suppose now that there is no sale tax and p How much money does Gina need to spend in order to achieve this utility? 60 45 90 4 and Py = = 3. Gina's target utility is U = 60.

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Question

Gina is at a toy store and is buying toy T-Rex's (x), which cost px, and toy yaks (y),
which cost py. Her income is I. She likes 3 T-Rex's as much as she likes 4 yaks. These
toys are perfect substitutes for her.

O
Suppose now that there is no sale tax and pa
How much money does Gina need to spend in order to achieve this utility?
30
60
45
90
=
4 and Py
-
3. Gina's target utility is U = 60.

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