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$4 then what is the Suppose a consumer had a utility function given by U-9x 2Y. If the price of Good X (Px) is $8 and the price of Good Y is utility maximizing quantity of Good X the consumer will purchase with a budget of $32? (Round to the nearest two decimal places if necessary) Answer 2
Suppose a consumer had a utility function given by Uxasy02. If the price of Good X (Px) is $10 and the price of Good Y is $2 then what is the utility maximizing quantity of Good Y the consumer will purchase with a budget of $98 Round to the nearest two decirmal places if necessary) An
Suppose the market was made up of two demanders. Demander 1 has a demand function given by ap- 10-5P. Demander 2 has a demancd function given by q-80-20P The horizontal summation of these two demand functions will when graphed, have a kink (point where the slope changes) Determine the price associated with the kink in the total demand function (Do not include a dollar sign in your response. Round to the nearest 2 decimal places if necessary)
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