Business, 20.02.2020 17:17 djs1002

Jane has utility function u(x, y)=x4y5. The price of x is px, the price of y is py, and Jane’s income is W. What is the expression of her consumption of y as a function of prices and income (her optimal consumption is determined by the tangency rule)?

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Jane has utility function u(x, y)=x4y5. The price of x is px, the price of y is py, and Jane’s incom...