Can you assist me with answering all parts of this equation? thank you There are two goods, apples and bananas. The price of apples is PA = $2,and the price of bananas is PB = $3. A consumer has $120to spend, and his utility function is U(A,B) = 2A² B³.%3|With apples on the x axis, the slope of the budget line is -2/3At A=2, B=1, the marginal utility of A is 8v and the marginal utility of B isAt the optimal bundle, the consumer buysv apples andv bananas.

Marginal Utility is the satisfaction derived from the consumption of an additional unit of any…

There are two goods, apples and bananas. The price of apples is PA = $2,and the price of bananas is PB = $3. A consumer has $120 to spend, and his utility function is U(A,B) = 2A? B3. With apples on the x axis, the slope of the budget line is -2/3 v At A=2, B=1, the marginal utility of A is 8 v and the marginal utility of B is At the optimal bundle, the consumer buys v apples and v bananas.

There are two goods, apples and bananas. The price of apples is PA = $2,and the price of bananas is PB = $3. A consumer has $120 to spend, and his utility function is U(A,B) = 2A? B3. With apples on the x axis, the slope of the budget line is -2/3 v At A=2, B=1, the marginal utility of A is 8 v and the marginal utility of B is At the optimal bundle, the consumer buys v apples and v bananas.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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