A consumer has the following utility function and income. 𝑈(𝑥, 𝑦) =1/2 * ln 𝑥 + 1/2 * ln y
Price of 𝑥 = Price of 𝑦 = 100. Income = 1000
Suppose that the consumer gets 2 redeemable coupons for a unit of x each, which cannot be sold.
I drew the budget constraint. However, I cannot find its equation to optimize it.