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3.3 Simple Expenditure Minimization (2 points) Suppose you are trying to minimize your expenditures E = 4x1 + 3r, subject to the target maximum utility
3.3 Simple Expenditure Minimization (2 points) Suppose you are trying to minimize your expenditures E = 4x1 + 3r, subject to the target maximum utility level (205 + 295)? - 175 . Set up the Lagrangean function for this expenditure-minimization problem with constraint . Compute for the expenditure minimizing quantities of z, and ry. . What is the minimum expenditure you can incur given the level of utility you have to attain
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