a. Find Sam's utility maximizing choice of ice cream and video games. Also find his utility level from consuming that bundle. b. Suppose the price of ice cream increases to $12.50(p,-$12.50). Calling Sam's income (1), find the demand for x and y under the new prices as a function of his income (1).

a. Find Sam's utility maximizing choice of ice cream and video games. Also find his utility level from consuming that bundle. b. Suppose the price of ice cream increases to $12.50(p,-$12.50). Calling Sam's income (1), find the demand for x and y under the new prices as a function of his income (1).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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