Jose gets utility from the goods he consumes and also the income he earns.His utility function is given by
U(q₁,q₂)= q₁q₂Y
Derive Jose's demand equations.Does the fact that he derives utility directly from income affect his consumption in this case?

Question

Quizplus · Accepted Answer

The Answer of Jose gets utility from the goods he consumes and also the income he earns.His utility function is given by U(q₁,q₂)= q₁q₂Y Derive Jose's demand equations.Does the fact that he derives utility directly from income affect his consumption in this case?

Jose Gets Utility from the Goods He Consumes and Also