Charles has two children, Thomas and Harry. He wants to divide $10,000 between them. He makes such
Question:
U(UT, UH) = 4UT + 3UH,
Where UT is Thomas's utility and UH is Harry's. Furthermore,
UT = √T
UH = √H
Where T is the amount of money Thomas receives and H is the amount Harry receives. How will Charles divide the money?
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Charles will give Thomas 6400 and Harry 3600 Explanation Substitute Thomass utility fu...View the full answer
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