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Suppose James is endowed with 5 units ofFand 1 unit ofC C, and has the utility function Suppose James is endowed with 5 units of

Suppose James is endowed with 5 units ofFand 1 unit ofC

C, and has the utility function

image text in transcribed Suppose James is endowed with 5 units of F and 1 unit of C, and has the utility function U(F, C) = F2C Suppose PF PC = 4. . James' demand for F is equal to (rounded to one decimal place) . James' demand for C is equal to (rounded to the nearest whole number) . If po were equal to 1, the change in income that would make James indifferent between his optimal quantity demanded and his endowment would be (rounded to the nearest whole number)

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