Discuss a representative consumer, Operation Management

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Discuss a representative consumer

Assignment:

Question

Consider a representative consumer with A budg et of $ 4 00 in world with two consumer goods X and Y.

The price of X is P x = $4

T he price of Y is P y = $6 .

The Consumer's marginal utility with respect to

i. X is 8 X and

ii. Y is 2Y

What are the quantities of commodity X and commodity Y that this consumer must purchase and consu me to maximize his/her utility?

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Operation Management: Discuss a representative consumer

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