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Suppose utility is given byU=x+y(wherexandydenote quantities), the prices of goodsxandyarePx=Py=1, and incomeI=12. The optimal bundle has what quantity ofx? unanswered The optimal bundle has what

Suppose utility is given byU=x+y(wherexandydenote quantities), the prices of goodsxandyarePx=Py=1, and incomeI=12.

The optimal bundle has what quantity ofx?

unanswered

The optimal bundle has what quantity ofy?

unanswered

Goodxundergoes a price shock, and nowPx=2.

The new optimal bundle has what quantity ofx?

unanswered

The new optimal bundle has what quantity ofy?

unanswered

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