3. Ryan has $1,700 that he can use for food. His college cafeteria sells only pizzas (p) and salads (s). One pizza costs
Posted: Wed Jul 06, 2022 6:33 pm
- 3 Ryan Has 1 700 That He Can Use For Food His College Cafeteria Sells Only Pizzas P And Salads S One Pizza Costs 1 (37.58 KiB) Viewed 21 times
3. Ryan has $1,700 that he can use for food. His college cafeteria sells only pizzas (p) and salads (s). One pizza costs $5. One salad costs $10. Ryan's utility function is as follows u(p, s) = (p) & (s) (1) where p is the number of pizzas and s is the number of salads. Your task is to predict how many pizzas and how many salads will Ryan buy.
(b) Find MRS(p,s) and MRT(p,s). (Write down all the steps of your calculation, not only the final results.) Pictures can be uploaded.