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Mariah consumes litres of milk(M) and kilos of cookies (C). Her utility function is given by U=18M^0.5+8C^0.5 The price of a kilo of cookies isp
Mariah consumes litres of milk(M) and kilos of cookies (C). Her utility function is given by
U=18M^0.5+8C^0.5
The price of a kilo of cookies isp
C
=70
and the price of a litre of milkisp
M
=10
and Mariah's income isy=120
. To the two decimal places (e.g. 4.12)how much M and how much C will she consume?
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