a and Sonam consume only Coke and Pepsi in a two person and two goods exchange economy. Neha sumes these two goods in fixed proportions such that she consumes 2 bottles of coke with 1 bottle of Pepsi. am's utility function is given by U = 4P +3C. In the economy, there is a total of 100 bottles of Pepsi and 200 les of Coke. If Neha initially had 60 bottles of Pepsi and 80 bottles of coke, then in the equilibrium position, am will consume: A. between 50 to 60 bottles of Pepsi B. between 52 to 60 bottles of Pepsi C. between 54 to 60 bottles of Pepsi D. between 56 to 60 bottles of Pepsi

a and Sonam consume only Coke and Pepsi in a two person and two goods exchange economy. Neha sumes these two goods in fixed proportions such that she consumes 2 bottles of coke with 1 bottle of Pepsi. am's utility function is given by U = 4P +3C. In the economy, there is a total of 100 bottles of Pepsi and 200 les of Coke. If Neha initially had 60 bottles of Pepsi and 80 bottles of coke, then in the equilibrium position, am will consume: A. between 50 to 60 bottles of Pepsi B. between 52 to 60 bottles of Pepsi C. between 54 to 60 bottles of Pepsi D. between 56 to 60 bottles of Pepsi

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter4: Utility Maximization And Choice

Section: Chapter Questions

Problem 4.2P

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Similar questions

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