Harvey Habit has a utility function U(c1, c2) = min{c₁, c₂}. If he had an income of $880 in period 1 and $1,320 in period 2 and if the interest rate were 0.20, how much would Harvey choose to spend on bread in period 1? A) $1,620 B) $360 C) $540 D) $2,160 E) $1,080

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The Answer of Harvey Habit has a utility function U(c1, c2) = min{c₁, c₂}. If he had an income of $880 in period 1 and $1,320 in period 2 and if the interest rate were 0.20, how much would Harvey choose to spend on bread in period 1? A) $1,620 B) $360 C) $540 D) $2,160 E) $1,080

Harvey Habit Has a Utility Function U(c1, C2) = Min{c1

Harvey Habit Has a Utility Function U(c1, C2) = Min{c₁