Diogo has a utility function: U = 100 x0.8 z0.2 The Price of X is P% =

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Diogo has a utility function:
U = 100 x0.8 z0.2
The Price of X is P% = $10, the price of Z is pz = $2, and his income is $800.
What is Diogo's optimal bundle? (Round your answer to one decimal place)

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Microeconomics An Intuitive Approach with Calculus

ISBN: 978-0538453257

1st edition

Authors: Thomas Nechyba

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Question Posted: Mar 21, 2018 04:56 AM

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Diogo has a utility function: U = 100 x0.8 z0.2 The Price of X is P% =

Question:

X, = units z, =D units

Step by Step Answer:

At the Pareto optimal point Z 125 X 1 Budget constraint ...View the full answer

Microeconomics An Intuitive Approach with Calculus

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