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Answer the question based on the table below showing the marginal utility schedules for product X and product Y for a hypothetical consumer. The price
Answer the question based on the table below showing the marginal utility schedules for product X and product Y for a hypothetical consumer. The price of product X is $4, and the price of product Y is $2. The income of the consumer is $20.
Product X Product Y
Quantity MUX Quantity MUY
1 32 1 24
2 28 2 20
3 24 3 16
4 20 4 12
5 16 5 8
When the consumer purchases the utility-maximizing combination of product X and product Y, total utility will be
Multiple Choice
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