Maximize utility(U)=X1^O.5X2^O.5 subject to P1X1+P2X2=M
work out
(i) the optimal value of X1...
Business, 09.02.2021 14:00 morelos7078
Maximize utility(U)=X1^O.5X2^O.5 subject to P1X1+P2X2=M
work out
(i) the optimal value of X1
(ii) the optimal value of X2
(iii)what is total utility
(iv)is the consumer maximizing utility
(v) interpret labda
Answers: 1
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