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Write down the utility maximization problem subject

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A consumer with utility function u(x, y) = x2 5y1 2 has an income of $26 and the price of good x is $3 and the price of good y is $2.50. Assume that he has to consume all of his income.

(a) Write down the utility maximization problem subject to his budget constraint.

(b) Write down the First order conditions for the maximization problem.

(c) Determine the solution to this maximization problem.

Reference no: EM132498125

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