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Suppose a consumer has an income of $120, the price of good X is $24 per unit and the price of good Y is $6
Suppose a consumer has an income of $120, the price of good X is $24 per unit and the price of good Y is $6 per unit. Therefore, the consumer can afford the bundles shown in the table below (without any wasted income). What is this consumer's utility maximizing bundle? Affordable bundles X (units) Y (units) TU TU 0 20 0 300 1 16 50 260 2 12 95 210 3 8 135 150 4 4 170 80 5 0 200 0 4 1 unit of X and 16 units of Y 2 unit of X and 12 units of Y 3 unit of X and 8 units of Y 4 unit of X and 4 units of Y
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