Harvey Habit has a utility function U(c₁, c₂)= min{c₁, c₂}.If he had an income of $420 in period 1 and $1,050 in period 2 and if the interest rate were 10%, how much would Harvey choose to spend on bread in period 1? A)$240 B)$360 C)$1,440 D)$1,080 E)$720

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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 $420 in period 1 and $1,050 in period 2 and if the interest rate were 10%, how much would Harvey choose to spend on bread in period 1? A)$240 B)$360 C)$1,440 D)$1,080 E)$720

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

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