Zach's preferences are representable by the utility function u = 90.3927, where 9₁ and 92 denote his consumption of goods 1 and 2. (Answers to each of these questions are rounded, where required, to twodecimal places.)Still assuming endowments of e₁ = 5 and e₂ = 9 and market prices p₁ = 20 and p2 = 30, what is the maximised value of Zach's utility?O Au= 6.74O B. u = 5.39O Cu = 5.65O D.u = 7.56O E. None of the above

The utility function represents a relationship between utility and consumption of commodity. The…

0.3 0.7 Zach's preferences are representable by the utility function u = 91³927, where 9₁ and 92 denote his consumption of goods 1 and 2. (Answers to each of these questio decimal places.) Still assuming endowments of e₁ = 5 and e₂ = 9 and market prices p₁ = 20 and p₂ = 30, what is the maximised value of Zach's utility? O Au = 6.74 ○ Bu = 5.39

0.3 0.7 Zach's preferences are representable by the utility function u = 91³927, where 9₁ and 92 denote his consumption of goods 1 and 2. (Answers to each of these questio decimal places.) Still assuming endowments of e₁ = 5 and e₂ = 9 and market prices p₁ = 20 and p₂ = 30, what is the maximised value of Zach's utility? O Au = 6.74 ○ Bu = 5.39

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter3: Preferences And Utility

Section: Chapter Questions

Problem 3.9P

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