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1. A consumer has the utility function over goods x and y, U(x, y) = 12x 3 y 4. a) What is the slope of

1. A consumer has the utility function over goods x and y, U(x, y) = 12x3 y4.

a) What is the slope of the consumer's indifference curve at the consumption bundle (1, 2)

b) What is the optimal choice if the price of x is $1 and price of y is $2 and M is $98

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