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Suppose Anne has preferences that can be represented by the utility function u(x₁, x2) = √√√x₁ + x2. She faces prices p₁
Posted: Wed Jul 06, 2022 6:24 pm
by answerhappygod
- Suppose Anne Has Preferences That Can Be Represented By The Utility Function U X X2 X X2 She Faces Prices P 1 (23.25 KiB) Viewed 21 times
Suppose Anne has preferences that can be represented by the utility function u(x₁, x2) = √√√x₁ + x2. She faces prices p₁ = 1, p2 = 1 and has income m > 0. If rounding is needed, please round to 3 decimal places. a) When she optimally chooses to consume positive quantities of both goods, Anne consumes how many units of good 1? b) Anne optimally chooses to consume positive quantities of both goods when m (fill in the blank)