Preferences are summarized by the utility function

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A consumer’s preferences are summarized by the utility function U = X2Y (then MUX = 2XY and MUY = X2 ). Assume that M = 120, PX = 4, PY = 2. a. What is this consumer optimal choice?

Reference no: EM13886973

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Preferences are summarized by the utility function : A consumer’s preferences are summarized by the utility function U = X2Y (then MUX = 2XY and MUY = X2 ). Assume that M = 120, PX = 4, PY = 2. a. What is this consumer optimal choice?

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