Solution-What is her level of utility at the optimal bundle

What is her level of utility at the optimal bundle

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Reference no: EM131405597

Jane has a utility function for two goods, X and Y, is U(x,y) = min (X,1/2Y). The price of each good is $1 and her income is $12.

A) Solve Janes constrained optimization problem (i.e. what is her optimal bundle?).

B) What is her level of utility at the optimal bundle?

Reference no: EM131405597

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What is her level of utility at the optimal bundle

Reference no: EM131405597

Reference no: EM131405597

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