Harvey Habit has a utility function U(c₁, c₂)= min{c₁, c₂}.If he had an income of $645 in period 1 and $1,290 in period 2 and if the interest rate were 15%, how much would Harvey choose to spend on bread in period 1? A)$1,417.50 B)$315 C)$1,890 D)$472.50 E)$945

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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 $645 in period 1 and $1,290 in period 2 and if the interest rate were 15%, how much would Harvey choose to spend on bread in period 1? A)$1,417.50 B)$315 C)$1,890 D)$472.50 E)$945

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

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