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Casper's utility function is u(x, y) = 3x + y, where x is his consumption of cocoa and y is his consumption of cheese.
Casper's utility function is u(x, y) = 3x + y, where x is his consumption of cocoa and y is his consumption of cheese. If the total cost of x units of cocoa is $5, the price of cheese is $10, and Casper's income is $200, how many units of cocoa will he consume?
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Principles of Information Systems
Authors: Ralph Stair, George Reynolds
11th edition
1133629660, 978-1133629665
