Find the point (x,y) that solves the following problem:1и(х, у) — — In x + - In y s.t. Px:Х + руҮ — т3121 т1 тy2 рхA. x=2 ру2 тВ. х —1 тy4 ру3 рх2 т3 тC. x=55 руpx2 т1 тD. х-3-3руpx||

The consumer is in equilibrium when marginal rate of substitution (Slope of indifference curve) is…

Find the point (x,y) that solves the following problem: 1 1 и (х, у) — — In x + - In y s.t. PxХ + руҮ — т 3 1 т A. x= 2 рх 1 т y 2 ру 1 т 2 т , у 3 B. x= px 4 ру 3 т C. x= 2 т y 5 ру 5 рх 1 т 2 т D. х3— , у 3 рх 3 ру ||

Find the point (x,y) that solves the following problem: 1 1 и (х, у) — — In x + - In y s.t. PxХ + руҮ — т 3 1 т A. x= 2 рх 1 т y 2 ру 1 т 2 т , у 3 B. x= px 4 ру 3 т C. x= 2 т y 5 ру 5 рх 1 т 2 т D. х3— , у 3 рх 3 ру ||

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Find the point (x,y) that solves the following problem:
1
и(х, у) — — In x + - In y s.t. Px:Х + руҮ — т
3
1
2
1 т
1 т
y
2 рх
A. x=
2 ру
2 т
В. х —
1 т
y
4 ру
3 рх
2 т
3 т
C. x=
5
5 ру
px
2 т
1 т
D. х-
3
-
3
ру
px
||

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