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Based on the utility function U(x,y)= x^1/2 y^1/2, income = 1000, and price of x = 25, at what price of x will the optimum

  1. Based on the utility function U(x,y)= x^1/2 y^1/2, income = 1000, and price of x = 25, at what price of x will the optimum quantity of x = 200? (Multiple choice)

  1. $1.00
  2. $2.00
  3. $2.50
  4. $3.00
  5. None of the above. Show the right answer

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