Given the utility function of a consumer for the goods x and y, U = (x + 2)(y + 1) and the prices of goods are P, = 4 TL and P, = 6 TL while the consumer's budget is B= 130TL (Note: There are 5...


Given the utility function of a consumer for the goods x and y,<br>U = (x +<br>2)(y + 1)<br>and the prices of goods are P, = 4 TL and P, = 6 TL while the consumer's budget is B= 130TL<br>(Note: There are 5 questions in the test regarding the information given above)<br>Which of the following is the optimal levels of purchase x* and y*?<br>O a. x* = 16, y* = 11.<br>Ob. x* = 11, y* = 16.<br>Oc. x* = 8, y* = 5.<br>Od. x* = 20, y* = 30.<br>

Extracted text: Given the utility function of a consumer for the goods x and y, U = (x + 2)(y + 1) and the prices of goods are P, = 4 TL and P, = 6 TL while the consumer's budget is B= 130TL (Note: There are 5 questions in the test regarding the information given above) Which of the following is the optimal levels of purchase x* and y*? O a. x* = 16, y* = 11. Ob. x* = 11, y* = 16. Oc. x* = 8, y* = 5. Od. x* = 20, y* = 30.

Jun 10, 2022
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