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Assume that the utility is U=X + ln(Y), where x and y are goods consumed . Which is the following statement is correct? Question 37Answer
Assume that the utility is U=X + ln(Y), where x and y are goods consumed . Which is the following statement is correct? Question 37Answer a. Optimal Y increases with income. b. Optimal Y depends on the prices of both goods and income. c. Optimal Y is independent of the price of x. d. Optimal Y is independent of income. e. None is correct
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The American Economy
Authors: Walter Greason, William Gorman
1st Edition
1524902675, 9781524902674
