Martha has the utility function U = min{ 4x, 2y}. Write down her demand function for x as a function of the variables m, p_x, and p_y, where m is income, p_x is the price of x, and p_y is the price of y.

Question

Quizplus · Accepted Answer

The Answer of Martha has the utility function U = min{ 4x, 2y}. Write down her demand function for x as a function of the variables m, p_x, and p_y, where m is income, p_x is the price of x, and p_y is the price of y.

Martha Has the Utility Function U = Min{ 4x, 2y}