3. You receive utility from days spent traveling on vacation domestically (D) and days spent traveling in a foreign country (F) as given by the utility function U(D, F) = DF. The price of a day spent traveling domestically is Rs 160 and in a foreign country Rs 200. Your annual budget for traveling is Rs 8,000.
a) Compute your utility maximizing choice of domestic travel (D) and foreign travel (F). [2.5]
b) Compute the price elasticity of your demand for domestic travel. [2.5]
Answers
Answered by
0
Answer:
KHz is a great way to get a new phone for you to use for the program to be able to
Similar questions