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wedding plan with cake (c) and champagne (h) - price per glass and slice
u(h,c) = h^(1/3)c

a) solve foc's to derive the demand functions h(P(subscript h), P(subscript c), M) and c(P(subscript h), P(subscript c), M)

b) suppose the budget constraint is 4c + 2h = 1200 what is optimal bundle

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9479957

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