Answer to Question #245221 in Microeconomics for Bianca

Question

Given income is P15.00 Px is 2.00/kg and Py is P1.00/pack

Answer 1

There is no utility function equation, there is no way to calculate utility maximization taking into account the budget constraint.

The given data make it possible to determine what the same quantity of goods x and y can be purchased taking into account the reduced income.

$x=y=\frac {P}{Px+Py}=\frac{15}{2+1}=\frac{15}{3}=5$