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Mary Problem Set

Mary’s utility function is U(b, c) = b + 100c − c

2

, where b is the number of silver

bells in her garden and c is the number of cockle shells. She has 500 square feet in her

garden to allocate between silver bells and cockle shells. Silver bells each take up 1

square foot and cockle shells each take up 4 square feet. She gets both kinds of seeds

for free.


college   business   economics   Budget-Constraint   Indifference-Curve   Micro-Economics   macro   
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