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mattygb2128
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Miss Muffet always likes to have things "just so". In fact, the only way she will consume her curds and whey is 2 Units of Curds with 1 Unit of Whey.
I know the Utility function is U=min(2W, C)
Miss Muffet has $12. P for curds is $1, and P for Whey is $2.
What is the utility maximizing bundle?? and how!?
 one year ago
 one year ago
mattygb2128 Group Title
Miss Muffet always likes to have things "just so". In fact, the only way she will consume her curds and whey is 2 Units of Curds with 1 Unit of Whey. I know the Utility function is U=min(2W, C) Miss Muffet has $12. P for curds is $1, and P for Whey is $2. What is the utility maximizing bundle?? and how!?
 one year ago
 one year ago

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\[Pc \times C + Pw \times W = M \] so \[C +2W=12\] and also 2W=C so solving above 2 equations, v get 4W=12 W=3 n C=6
 one year ago
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