Suppose utility function of a consumer is , where and are quantities of the two commodities consumed. If price of is Re.1 and that of is Rs.2, and income of the consumer is Rs.100, utility maximizing quantity consumption of is ________.
Suppose utility function of a consumer is , where and are quantities of the two commodities consumed. If price of is Re.1 and that of is Rs.2, and income of the consumer is Rs.100, utility maximizing quantity consumption of is ________.
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Suppose utility function of a consumer is u(x,y)=xy, where x and y are quantities of the two commodities consumed. If price of x is Re.1 and that of y is Rs.2, and income of the consumer is Rs.100, utility maximizing quantity consumption of x is.
Budget constraint and consumer equilibrium has come up 99 times in 7 exams since 2004.
This question is on Utility maximisation and the interior optimum, part of Budget constraint and consumer equilibrium in Microeconomics.
Choosing the best affordable bundle where an indifference curve is tangent to the budget line, including Cobb-Douglas demand.
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Question from the IIT JAM 2025 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.