Suppose w100 there are two commodities electricity and food, Business Economics

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Suppose w100 there are two commodities electricity and food

Suppose w=$100. There are two commodities, electricity and food. Each unit of food costs $1.

The first 20 kwh of electricity cost $1 per kwh but the price of each incremental unit of electricity is $1.50 per kwh.

Write the consumer's budget set formally and draw it.

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Business Economics: Suppose w100 there are two commodities electricity and food

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Business Economics: Suppose w100 there are two commodities electricity and food

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