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Question # 3 : Consider an individual with preferences defined over two goods, x , and Y . This individual has preferences that can be

Question # 3:
Consider an individual with preferences defined over two goods, x, and Y. This individual has preferences
that can be represented by the following utility function: U(x,Y)=x2+Y2. Let Px=4 and Py=8. In
addition, suppose this individual has an income of $120. How much goods x and Y should the individual
buy to maximize utility?
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