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A consumer's preferences are given by the following Leontif utility function: u (x, y) = min [6x, 7y] Assume P* = 10, Py = 10,
A consumer's preferences are given by the following Leontif utility function: u (x, y) = min [6x, 7y] Assume P* = 10, Py = 10, and U = 84. (b.) Solve for the Hicksian demand (i.e. the compensated demand) for y yH ( 10,10,84) =A consumer's preferences are given by the following Leontif utility function: u (x, y) = min [6x, 7y] Assume P = 10, Py = 10, and U = 84. (a.) Solve for the Hicksian demand (i.e. the compensated demand) for x xH (10,10,84) =
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