What is the optimum bundle

Reference no: EM13716110

1. George has a utility function xy+2x. He has 60$ in his pocket. x cost 4$ and y costs 2$. What is the optimum bundle?

(Use cramer's rule)

2. A firm has total cost function TC = 2x^2 + 3y^2 -3xy -3x +30. Find the optimum bundle of x and y that will minimize the cost. (Use cramer's rule)

Reference no: EM13716110

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