in this post you eill get answer of Suppose Natasha’s income is $200 per month, a concert ticket costs $30, a film ticket costs $5, and her preferences correspond to the utility function U ( C , F by insureinsurancelife

Suppose Natasha’s income is $200 per month, a concert ticket costs $30, a film ticket costs $5, and her preferences correspond to the utility function U ( C , F ) = C 0.75 F 0.25 , where C stands for the number of concerts and F stands for the number of films. For that utility function, the marginal utility of concert tickets is 0.75( F / C ) 0.25 , and the marginal utility of film tickets is 0.25( C / F ) 0.75. (To understand why, refer back to Section 4.4, where we discussed Cobb-Douglas utility functions.) How many film tickets will she purchase, and how many concert tickets (As before, fractions are allowed.)

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