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assume P-2 TL, P-3 TL and M=200 TL. 5. Find the quantities of X and Y that maximize utility. 6. Assume that Princreases to

assume P-2 TL, P-3 TL and M=200 TL. 5. Find the quantities of X and Y that maximize utility. 6. Assume that Princreases to 4 TL while Py stays the same: (a) Find the income and substitution effects of this price change. (b) Find the income necessary for consumer to stay on the same indifference curve. (c) Find the amount of subsidy necessary for consumer to stay on the same indifference.

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