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Business, 25.11.2020 14:20 deeanna20

Mike consumes two commodities, x and y, and his utility function is min{x+2y, y+2x}. He chooses to buy 8 units of good x and 16 units of good y. The price of good yis 0.50. What is his income? a. 32
b. 40
c. 24
d. 16

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Mike consumes two commodities, x and y, and his utility function is min{x+2y, y+2x}. He chooses to b...
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