Calculation of Utility Maximization on Education

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"(a) Let Household A’s utility function have α = 0.5 = β. What is the household’s utility maximizing bundle? (b) What is the share of Household A’s income spent on education? (c) What is the household’s utility if they consume the maximum amt of G allowed by their budget and an amt of free education provided by the government, EF = 20? (d) Does this household consume more or less education if EF = 20 is provided by the government? (e) Let Household B’s utility function have α = 0.15 and β = 0.85. What is the household’s utility maximizing bundle? "
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July 4, 2013
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555.08 KB
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Required Software Any PDF Reader, Apple Preview
Supported Devices Windows PC/PocketPC, Mac OS, Linux OS, Apple iPhone/iPod Touch... (See More)
# of Devices Unlimited
Flowing Text / Pages Pages
Printable? Yes
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