Assume that at a specific level of utility, the indifference curve for a given household consuming goods x and y can be described by:
y= 288/x
Suppose this consumer has $98 to spend and x costs $4 per unit and y costs $2 per. This results in ly the following budget constraint:
M = p,x+p,y=98=4x+2y
How much x and y will the household choose to purchase?
