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Suppose that a consumer's utility function is given by u(x, y) =x y . a) Find his demand functions for the two goods x and
Suppose that a consumer's utility function is given by u(x, y) =x y .
a) Find his demand functions for the two goods x and y given that p x = 2, p y = 5,
and m=10.
b) Illustrate the consumer's maximization problem graphically.
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