devantaylo7125 devantaylo7125
  • 15-03-2024
  • Business
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Consider a market with 1000 identical consumers, each with a utility function u(b,c) = 60b − b² + c Each consumer has identical disposable income w = 4, 000 dollars. The price of c is equal to 1 dollar. If each consumer maximizes their utility subject to their budget constraint, how much of good c will they consume collectively?
A) $1,000
B) $2,000
C) $3,000
D) $4,000

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