A consumer is confronted by a constrained utility maximization problem as follows U = 6 - 2z2 + 20z -0.5x2 Where (U) is total utility and other relevant variables are given below; Income level Y = Ksh.50 Price of (px) = Ksh.1 Price of (pz) = Ksh.6 Determine the equilibrium quantities of commodities x and z for the consumer?
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A consumer is confronted by a constrained utility maximization problem as follows U = 6 - 2z2 + 20z -0.5x2 Where (U) is total utility and other relevant variables are given below; Income level Y = Ksh.50 Price of (px) = Ksh.1 Price of (pz) = Ksh.6 Determi