The price of food is pxkshs 200 and the price of clothing, Econometrics

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The price of food is pxkshs 200 and the price of clothing

Eric purchases food (measured by x) and clothing (measured by y) and has the utility function U(x, y)= xy. His marginal utilities are MUx=yand MUy= x. He has a monthly income of Kshs, 8000. The price of food is Px=Kshs. 200, and the price of clothing is Py=Kshs. 400. Find Eric's optimal consumption bundle.

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Econometrics: The price of food is pxkshs 200 and the price of clothing

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