U(X,Y) = MIN[X,4Y]Px = 1Py = 2Label the bundles chosen at income (m) levels of $30, $60, $90. Already drew Income Consumption Curve and budget constraint, and have solution to the bundles but need to know how to calculate them.
U(X,Y) = MIN[X,4Y]Px = 1Py = 2Label the bundles chosen at income (m) levels of $30, $60, $90. Already drew Income Consumption Curve and budget constraint, and have solution to the bundles but need to know how to calculate them.