Mathematics, 13.02.2021 03:00, hixonjennifer
Suppose that Santiago has a utility function for two goods, X and Y, is U(X, Y ) = 4X^.5 + Y (hint: this is an imperfect substitutes utility function). The price of X is $10 per unit and the price of Y is $5 per unit. Suppose that the Santiago has $200 to spend. Solve Santiago’s constrained optimization problem (i. e., what is his optimal bundle?). What is his level of utility at the optimal bundle?
Answers: 1
Mathematics, 21.06.2019 13:30, eelebron0905
Ben wants to play a carnival game that costs $2. in his pocket he has 5 red tickets worth 35 cents each, and 15 blue tickets worth 10 cents each. which of the following systems of inequalities correctly represents the constraints on the variables in this problem? let represent the red tickets and b represent the blue tickets.
Answers: 1
Suppose that Santiago has a utility function for two goods, X and Y, is U(X, Y ) = 4X^.5 + Y (hint:...
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