Business

Drake Patterson

19 June, 22:06

Suppose that Bridget and Erin spend their incomes on two goods, food (F) and clothing (C). Bridget's preferences are represented by the utility function U (F, C) = 10FC, while Erin's preferences are represented by the utility function U (F, C) = 20 * F. Food price is $10 per 2 * C 2 unit and Clothing price is $15 per unit. Income is $1000 for both of them. a) Find optimal choices of food and clothing for Erin and Bridget

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