What is the optimal bundle carmela can achieve while, Ask an Expert

Economics

Carmela's utility function for consuming clothing and food is U(F,C) = 5CF^3+10. The price of food is $1.00 and the price of clothing is $5.00. A) what is the marginal rate of substitution between food and clothing? B) What is the optimal bundle Carmela can achieve while spending $60? C) For Carmela, is clothing a normal or inferior good?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9437425

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