Diogo has a utility function, 0.2 0.8 U(q,, 92) =q,"42 where q, is chocolate candy and q2 is slices of pie. If the price of slices of pie, p2, is $1.00, the price of chocolate candy, p,, is $0.50, and income, Y, is $100, what is Diogo's optimal bundle? The optimal value of good q, is 91 units. (Enter your response rounded to two decimal places.)
Diogo has a utility function, 0.2 0.8 U(q,, 92) =q,"42 where q, is chocolate candy and q2 is slices of pie. If the price of slices of pie, p2, is $1.00, the price of chocolate candy, p,, is $0.50, and income, Y, is $100, what is Diogo's optimal bundle? The optimal value of good q, is 91 units. (Enter your response rounded to two decimal places.)
Chapter3: Preferences And Utility
Section: Chapter Questions
Problem 3.2P
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