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最新推荐文章于 2024-10-10 16:09:03 发布

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最新推荐文章于 2024-10-10 16:09:03 发布

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Question 1 Residents of Cavity City cares only about oral hygiene (good x) and money for all other goods (good y). Mr. Whiteteeth, a resident of the city, has a preference that can be represented by the utility function U(z, y)-4ln +Iny. The price of 1 unit of oral hygiene is 85. The price of y is S1. Mr. Whiteteeth has an income of $200. You may also assume that, if Mr. Whiteteeth spends no money on oral hygiene, he gets 0 unit of oral hygiene.转载于赶Due论坛（info.gandue.net）
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1.a) The utility function is given as u=4matuny At equilibrium: ". Pa Muy 4 z 5 muz -107 60% 5x ay : —CV The budget constraint: 5x+y = 200 Fromco; or, 4y + y = 200 … y* = 40 32 b) A 6ot 40 B 32 18 The oniginal budget line AB . Equilibrium Eo ( 32,40). chi. The new budget line ACD. Even if the consumer spends all to his income on y still receires 20 units of a. ünd His income with the government subsidy is work m’: 200+ (5x20 = 398
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转载于赶Due论坛（info.gandue.net）