ECON3200001.1251 Homework Assignment 4

Kim’s utility function is given by 𝑈 = 𝑋 𝑌 . For this utility function, 𝑀 𝑈 𝑋 = 𝑌 and 𝑀 𝑈 𝑌 = 𝑋 . If good 𝑋 costs $6, and good 𝑌 costs $3, consider the utility-maximizing bundle of ...