Which is true given that the price of good x falls to 1

Reference no: EM133707332

Question: Floyd's utility function is given by U(X,Y) = 2XY. MUX = 2Y and MUY = 2X. The price of good X is PX = 2, whereas the price of good Y is PY = 1. Floyd's income is 1,000. Which is true given that the price of good X falls to 1?

Reference no: EM133707332

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