Question

the maximum consumption of x is 8. because total income is 24 and one good x price is 3 so 8 will we the maximum consumption of x but when When the price of X has become 1 and the price of Y 5 what will be the ans

Answer 1

Answer:

The price of x is px = 5 and the price of y is py = 8. This person´s income is m = 160. a) Find the optimal consumption choice of this person.