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Suppose that Connor cares only about barbecued chicken (B) and fish (F). His function is U = B^0.2 F^0.4. The price of barbecued chicken is
Suppose that Connor cares only about barbecued chicken (B) and fish (F). His function is U = B^0.2 F^0.4. The price of barbecued chicken is $10 and $20. Connor has a budget of $200.
a) Write down the consumers maximization problem.
b) What are the consumption quantities of B and F that will maximize Connor's Utility?
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