Economics · Consumer Behavior
An individual's utility function for two goods - milk (M) and butter (B) is given as U(M,B) = 5M - 10B. If the cost of each unit of the two goods is ₹1 and the individual's weekly budget is ₹5, find the individual's utility maximizing choice.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 12.5 units of M and 2.5 units of B
- 20 units of M and 5 units of B
- 35 units of M and 5 units of B
- 45 units of M and 0 units of B✓
Correct answer
5 units of M and 0 units of B
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