A consumer has income of $15000. Masks costs $35 per mask, and sanitizers costs $70 per bottle. 1.Explain how a consumer should allocate expenditure in order to achieve maximum satisfaction and analyse how a rise in income might affect allocation.

A consumer has income of $15000. Masks costs $35 per mask, and sanitizers costs $70 per bottle. 1.Explain how a consumer should allocate expenditure in order to achieve maximum satisfaction and analyse how a rise in income might affect allocation.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 5SQP

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