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ASAP PLEASE PLEASE! Richard is consuming X and Y so that he is spending his entire income and marginal utility over price ratio for good
ASAP PLEASE PLEASE!
Richard is consuming X and Y so that he is spending his entire income and marginal utility over price ratio for good X is 6 and marginal utility over price ratio for good Y is 10. To maximize utility, he should
Select one:
a. consume less of both X and Y.
b. continue to consume the same amount of X and Y since he is already maximizing utility.
c. consume more X and less Y.
d. consume less X and more Y.
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