Maurice has the following utility function: U(X,Y) = 20x + 80Y x2 2Y2 where X is his consumption of CDs with a price of $1
Maurice has the following utility function: U(X,Y) = 20x + 80Y x2 2Y2 where X is his consumption of CDs with a price of $1 and Y is his consumption of movie videos, with a rental price of $2. He plans to spend $65 on both forms of entertainment. Determine the number of CDs and video rentals that will maximize Maurice's utility. Maurice's utility is maximized when he consumes CDs and movie videos. (Enter your responses using integers.)
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