What is the optimum combination of ice cream scoops

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Reference no: EM13222454

A. I only consume ice cream and bananas in the form of bananasplits, which i make with 3 scoops of ice cream and one banana. The price of ice cream is $.50 a scoop. Bananas are $.25 each. I have $5 dollars to spend on ice cream sundaes this week. Set up the Lagrangean as if you were going to use it to solve

B. Explain why you cannot solve this optimization problem using the Lagrangean.

C. Graph the budget constraint & some indifference curves.

D. What is the optimum combination of ice cream scoops and bananas that maximize utility given this budget constraint?

Reference no: EM13222454

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