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3. Lee has the utility function U(:r,y) = (27+ 1) (y +4) _ The price of y is 1. Les spends all of this income

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3. Lee has the utility function U(:r,y) = (27+ 1) (y +4) _ The price of y is 1. Les spends all of this income to buy 6 units of y and no :17. From those facts we can tell that the price of a: must be at least how much? Explain your answer and draw a diagram to illustrate it

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