Serena consumes popsicles x and ice cream cones y. her, Ask an Expert

Economics

Serena consumes popsicles (X) and ice cream cones (Y). Her utility function given by U (x,y) = 3xy. The price of a popsicle is $2, and the price of an ice cream cone is $3. Serena has $40 dollars to spend.

A.) Set up the Lagrangian for the consumer maximization problem.

B.) Find Serena's optimal consumption bundle of popsicles and ice cream cones.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9475893

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