Draw a graph of the solution using the same scaling used in question 1, plotting on the vertical axis and on the horizontal axis.
Math Problems. For all questions on this homework assume that the consumer spends all his/her income on goods x and y, whose quantities are denoted and and prices are Px and Py. For all questions, assume that the consumer’s utility function is 1. Suppose that the consumer has an income of $4,000 and that Px … Read more