Santos7811 Santos7811
  • 22-03-2024
  • Business
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A consumer has $360 income to spend on two goods, X and Y. The price of a unit of X is $10 and the price of a unit of Y is $30. The consumer’s utility function is U(X,Y)=X(3/4) Y(1/4). The optimal consumption bundle for the consumer is:
a. X=12, Y=4
b. X=6, Y=6
c. X=4, Y=12
d. X=10, Y=2

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