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  3. 3 miss eliza doolittles preferences over dingdongs d and swizzles...

Question: 3 miss eliza doolittles preferences over dingdongs d and swizzles...

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3. Miss Eliza Doolittles preferences over dingdongs (d) and swizzles (s) are represented by the following utility function: U(d, s)2d + 3s The price of a dingdong (pe) is $30 and the price of a swizzle (p:) is $40. Her total income (Y) is $120. Write down Miss Doolittles budget constraint and illustrate it on a graph with dingdongs (d) on the horizontal axis and swizzles (s) on the vertical axis. What is Miss Doolittles utility maximizing combination of dingdongs and swizzles? Briefly explain the logic behind your answer

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