Solution
"\\frac{MU_x}{p_x}=\\frac{MU_y}{P_y}"
"\\frac{x}{3}=\\frac{4y}{3}"
Budget line = I= PxX+PyY
1200=3x+3y
"\\frac{MU_x}{MU_y}=\\frac{P_x}{P_y}=\\frac{x}{4y}"
x=4y
1200=3(4y)+3y
1200=15y
y=80
1200=3x+240
960=3x
x=320
Utility is maximized when
y=80
x=320
MUx= 320
MUy= 320
Comments
Good
Good results
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