paigeheadley139 paigeheadley139

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. 24,3 b. 12,4 c. 18, 3.5 d. 6, 4.5

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