I have many doubts with this exercise of microeconomics. I do not know if anyone could help me please. Thanks in advance.
Let x be the food consumption of a household, and be y the consumption of clothes. The preferences of a household can be represented as U(x,y)=3lnx+5lny.
Additionally, this household faces the unit prices: px=$10 and py=$4.
Determine the Marshallian demands of each good considering a budget of $100.
And it also determines the level of the level of utility reached.
