STSTEER

Engel Curves

Deriving the Engel curve of a good, the income at which a consumer buys each quantity, from a Cobb-Douglas utility and prices.

Question template

Arjun buys video games (good x) and cloud storage (good y) and spends all of his income m on them. Arjun's utility is U(x, y) = ufunc, where x is the number of video games and y the number of terabyte-months of cloud storage per year. The price of video games is $px per game and the price of cloud storage is $py per terabyte-month, and both can be bought in any fractional amount. If Arjun's income rises by $delta per year and prices stay fixed, by how many video games per year does his purchase of video games rise? Round to two decimals.

Use it

from datasets import load_dataset
ds = load_dataset("narunraman/steer_me", "engel_curves")