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Bob's preferences over goods x and y can be represented by the utility function U = X 1/4 Y 3/4 . He has an income
Bob's preferences over goods x and y can be represented by the utility function U = X1/4 Y 3/4. He has an income of m, the price of good x is 1, and the price of good y is y p .
(a) Show that Bob's preferences satisfy monotonicity. Explain your answer.
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