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There are two commodities x1 and x2 on which a consumer spends his entire income in a day. He has a utility function of U=x1^0.5
There are two commodities x1 and x2 on which a consumer spends his entire income in a day. He has a utility function of U=x1^0.5 x2^0.5 .find out the optimal quantities of x1 and x2 if prices x1 and x2 are sh5 andsh2 respectively and his daily income equals shs 500.
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