1 Nadia likes spare ribs, R, and fired chicken,

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1 Nadia likes spare ribs, R, and fired chicken,

1 Nadia likes spare ribs, R, and fired chicken, C. Her utility function is U = 10R 2C (1) Her marginal utilities are MUR = 20RC and MUC = 10R2 . Her weekly income is $90, which she spends on only ribs and chicken. a.If she pays $10 for a slab of ribs and $5 for a chicken, what is her optimal consumption bundle? Show her budget line, indifference curve, and optimal bundle, e1 in a diagram. b.Suppose the price of a chicken doubles to $10. How does her optimal consumption of chicken and ribs change …
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