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24-05-2023
Mathematics

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Suppose that consumer has the following utility function: U(X,Y)= X¹/2y1/4. Suppose also that Px 2, Py = 3 and I = 144. What would be the optimal consumption of X and Y at the equilibrium, respectively? a) 24, 32 b) 12, 40 c) 48, 16 d) 36, 24

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