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Diogo has a utility function: U = 100X0.920.1 The price of X is px = $5, the price of Z is p₂ = $14, and his income is $1,000. What is Diogo's optimal bundle? (round your answer to one decimal place) units X₁ = Z₁ = units

Diogo has a utility function: U = 100X0.920.1 The price of X is px = $5, the price of Z is p₂ = $14, and his income is $1,000. What is Diogo's optimal bundle? (round your answer to one decimal place) units X₁ = Z₁ = units

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Diogo has a utility function: U = 100X0.970.1 The price of X is px = $5, the price of Z is p₂ = $14, and his income is $1,000. What is Diogo's optimal bundle? (round your answer to one decimal place) X₁ = Zo = units units
Transcribed Image Text:Diogo has a utility function: U = 100X0.970.1 The price of X is px = $5, the price of Z is p₂ = $14, and his income is $1,000. What is Diogo's optimal bundle? (round your answer to one decimal place) X₁ = Zo = units units
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