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Suppose that the price of good x is 1, the price of good y is 2, and that Ann's income is 12. Further suppose that
Suppose that the price of good x is 1, the price of good y is 2, and that Ann's income is 12. Further suppose that Ann's preferences are represented by the utility function u(x,y)=min{x,y}. Find the Ann's optimal choice.
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x=4, y=4
x=2, y=5
x=6, y=3
x=12, y=0
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