What is the optimal bundle unde

Reference no: EM13782004

Say that the price of good X is Px =$1 ,the price of good Y is Py =$2 and income I=$18 .The marginal rate of substitution between X and Y (MRSyx) is constant at 3. Show the budget constraint and some representative indifference curves on a graph (rough sketch) with good X on x axis . What is the optimal bundle under these conditions?

Reference no: EM13782004

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What is the optimal bundle unde : Say that the price of good X is Px =$1 ,the price of good Y is Py =$2 and income I=$18 .The marginal rate of substitution between X and Y (MRSyx) is constant at 3. Show the budget constraint and some representative indifference curves on a graph (rou..

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