Harvey Habit in Problem 9 has a utility function U(c₁, c₂) = min{c₁, c₂}. If he had an income of $430 in period 1 and $860 in period 2 and if the interest rate were 15%, how much would Harvey choose to spend on bread in period 1? A) $945 B) $210 C) $315 D) $1,260 E) $630

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The Answer of Harvey Habit in Problem 9 has a utility function U(c₁, c₂) = min{c₁, c₂}. If he had an income of $430 in period 1 and $860 in period 2 and if the interest rate were 15%, how much would Harvey choose to spend on bread in period 1? A) $945 B) $210 C) $315 D) $1,260 E) $630

Harvey Habit in Problem 9 Has a Utility Function U(c1

Harvey Habit in Problem 9 Has a Utility Function U(c₁