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  3. andy purchases only two goods, apples (a) and kumq

Andy purchases only two goods, apples (a) and kumquats (k). He has an income of...

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Accounting

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Andy purchases only two goods, apples (a) and kumquats (k). He has an income of $40 and can buy apples at $2 per pound and kumquats at $1 per pound. His utility function is U(a,k)=5a+3k That is, his constant marginal utility for apples is 5 and his constant marginal utility for kumquats is 3 . What bundie of apples and kumquats should Andy purchase to maximize his utility? Why? Andy should maximize his utility buy purchasing rounded to the nearest whole number.) apples (Ibs.) and kumquats (lbs.). (Enter your responses Andy purchases only two goods, apples (a) and kumquats (k). He has an income of $40 and can buy apples at $2 per pound and kumquats at $1 per pound. His utility function is U(a,k)=5a+3k That is, his constant marginal utility for apples is 5 and his constant marginal utility for kumquats is 3 . What bundie of apples and kumquats should Andy purchase to maximize his utility? Why? Andy should maximize his utility buy purchasing rounded to the nearest whole number.) apples (Ibs.) and kumquats (lbs.). (Enter your responses

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