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24-05-2023
Business

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Suppose that consumer has the following utility function: U(X,Y)=In(4X) + 2Y. Suppose also that Px 2. Py = 24 and 1= 120. What would be the optimal consumption of X and Y at the equilibrium, respectively? a) 6.4.5 b) 18, 3.5 c) 12, 4 d) 24, 3

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