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Myst · 02-08-2005, 12:26 AM

Michael derives hsi utility from two goods - cake (C) and donuts (D. His utility is given by U = C*D, with MUc = D and MUd = C. He has himcome I = $120 and price of C, (Pc) = $1, and price of D (Pd) = $1 as well. What is Donalds income expansion path? What are utility maximizing C and D? Holding his himcome and Pd constant at their current values, what is Donald's demand curve for cake?

What playa knows this - its probably pretty simple, I took econ as a filler class

02-08-2005, 12:26 AM
Myst Confirmed User Join Date: Feb 2004 Location: Alberta, Canada Posts: 4,707	Anyone here take basic university economics?, income expansion pathway Michael derives hsi utility from two goods - cake (C) and donuts (D. His utility is given by U = C*D, with MUc = D and MUd = C. He has himcome I = $120 and price of C, (Pc) = $1, and price of D (Pd) = $1 as well. What is Donalds income expansion path? What are utility maximizing C and D? Holding his himcome and Pd constant at their current values, what is Donald's demand curve for cake? What playa knows this - its probably pretty simple, I took econ as a filler class __________________ ICQ: 298-523-037