Utility function from yards of blue and red

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Suppose you have a $20 gift card and want to buy Blue and Red yarn. The utility function from yards of blue (B) and red (R) yarn can be expressed as follows: U(B,R) = 3B+R there is a sale on red yarn, and that it currently costs $1 per yard. blue yarn costs $4 per yard. A) Graph the budget constraint and the highest possible indifference curve that can be reached. How many yards of each type of yarn will Jason purchase at these prices with his gift card?

Reference no: EM131424699

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Utility function from yards of blue and red : Suppose you have a $20 gift card and want to buy Blue and Red yarn. The utility function from yards of blue (B) and red (R) yarn can be expressed as follows: U(B,R) = 3B+R there is a sale on red yarn, and that it currently costs $1 per yard. blue yar..

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