Question: Sam's utility from drinking hot drinks is represented by: u(c, t ) = 2c^1/2 t^1/2 Where is the number of cups of coffee they drink
Sam's utility from drinking hot drinks is represented by: u(c, t ) = 2c^1/2 t^1/2 Where is the number of cups of coffee they drink in a given week and is the number of cups of tea they drink. (a) Carefully explain whether, according to Sam, coffee and tea are perfect substitutes
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