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Curve-budget line analysis

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Reference no: EM132263266

Lauren likes to have 2 bottles of sports drink (X) when she plays 3 hours of basketball (Y). Her preferences are represented by the following utility function: U(X,Y) = min(3X, 2Y). Her budget is $60, and the price of a sports drink is $2.50 and 1 hour of basketball is $10. What is Lauren's optimal choice for drinks and basketball given her budget? Illustrate her optimal choice on a graph, using indifference curve-budget line analysis. Include the value of her utility at her optimal choice in your answer.

Reference no: EM132263266

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