The last step calculating utility, using the calculation, it will give answer 3.2 - Plugging in the new values of x and y into Bob's utility function, we get U = 2(1.11) + 0.98 = 11.2.
The last step calculating utility, using the calculation, it will give answer 3.2 - Plugging in the new values of x and y into Bob's utility function, we get U = 2(1.11) + 0.98 = 11.2.
Chapter1: Making Economics Decisions
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![The last step calculating utility, using the calculation, it will give answer 3.2 - Plugging in the new values of x and y into
Bob's utility function, we get U = 2(1.11) + 0.98 11.2.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2fa709c6-47c0-4ca3-91f7-387709ff51b6%2F4efd6fc6-49f9-4c41-b357-965495d0ab78%2F2h4m52a_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The last step calculating utility, using the calculation, it will give answer 3.2 - Plugging in the new values of x and y into
Bob's utility function, we get U = 2(1.11) + 0.98 11.2.
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