troshakar6286 troshakar6286

16-03-2020
Business

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Suppose a consumer has income of $120 per period, and faces prices pX  2 and pZ  3. Her goal is to maximize her utility, described by the function U  10X0.25Z0.75. Calculate the utility maximizing bundle (X, Z).

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topeadeniran2 topeadeniran2

20-03-2020

Answer: The utility maximizing bundle for X is 15 and Z is 30.

Explanation: Kindly check the diagram attached for explanation.

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