Copyright (c) Christopher Makler / econgraphs.org

Utility and Demand: {{ model.utility.title }}

utility
u({{ notation.xLabel }}, {{ notation.yLabel }}) = {{ model.utility.formula(false) }}
\alpha = {{params.alpha | number: 2}}:
r = {{model.utility.r | number: 2}}:
budget
{{ model.budget.formula(false) }}
{{ notation.incomeLabel }} = {{params.income | number: 0}}:
{{ notation.pxLabel }} = {{params.px | number: 2}}:
{{ notation.pyLabel }} = {{params.py | number: 2}}:
Note: assumes buy only {{ notation.xGoodLabel }} if MRS = \frac{ {{ notation.pxLabel }} }{ {{ notation.pyLabel }} }