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Solve clearly As in the previous question, the Anteater Family can spend its money on education (e) or other goods (g). The family's utility over
Solve clearly
As in the previous question, the Anteater Family can spend its money on education (e) or other goods (g). The family's utility over e and g is given by U (a, g) : 260'5 + 2g\" The Anteaters have income of $60,000 to spend on e and g each year. Assume there is no public education system; the only option is to send their children to private school. However, now the government subsidizes private education for families like the Anteaters, such that the price per unit (e.g., per hour) of private education is $25 (instead of $50). Assume the price per unit of other goods is still $50. The number of units of private education the Anteaters optimally consume with the subsidy is units {enter only a number in the blank, and round to the nearest integer if necessary}Step by Step Solution
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