Diogo has a utility function, U(91, 92)=910.59₂0.5 where q₁ is chocolate candy and q2 is slices of pie. If the price of slices of pie, p2, is $5.00, the price of chocolate candy, p₁, is $2.50, and income, Y, is $100, what is Diogo's optimal bundle? The optimal value of good q₁ is 91 units. (Enter your response rounded to two decimal places.)

Diogo has a utility function, U(91, 92)=910.59₂0.5 where q₁ is chocolate candy and q2 is slices of pie. If the price of slices of pie, p2, is $5.00, the price of chocolate candy, p₁, is $2.50, and income, Y, is $100, what is Diogo's optimal bundle? The optimal value of good q₁ is 91 units. (Enter your response rounded to two decimal places.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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