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In this exhibit (Consumer Equilibrium 1), assume that the price of good X is $2 per unit and the price of good Y is $1
In this exhibit (Consumer Equilibrium 1), assume that the price of good X is $2 per unit and the price of good Y is $1 per unit, and you consume 3 units of good X and 3 units of good Y. To maximize utility, assuming that the goods are divisible, you would consume:
Select one:
a.less of both X and Y.
b.more of both X and Y.
c.less of X and more of Y.
d.more of X and less of Y.
Exhibit: Consumer Equilbrium 1 Units of Marginal Utility Units of Marginal Utility Good X of Good X Good Y of Good Y 20 12 16 10 12Step by Step Solution
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