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IV. Using utility maximization rule, and the data and graphs provided below, derive the Demand Curve for Product X. (25 Points) Qty Y Total Income

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IV. Using "utility maximization rule", and the data and graphs provided below, derive the Demand Curve for Product X. (25 Points) Qty Y Total Income = $1,000 1,000 Pricey = $1.00 Pricex, = $2.00 Pricey2 = $1.00 Pricey = $0.50 Uc UA 250 500 750 1,000 1,250 1,500 1,750 2,000 Px Demandx $2.00 Demand Schedule Price Qtyx $1.50 $2.00 $1.00 $1.00 $0.50- $0.50 250 500 750 1 non

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