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U(x,y) = x0.5y0.5 , and budget line is 400=10x+20y a. What is the optimal bundle of x and y? i. Optimal Good x: ii. Optimal

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U(x,y) = x0.5y0.5 , and budget line is 400=10x+20y a. What is the optimal bundle of x and y? i. Optimal Good x: ii. Optimal Good y: b. Suppose the price of good x falls to $6, what is the new optimal bundle? i. Optimal Good x: ii. Optimal Good y: c. What is the total effect (on good x) of the price decrease

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