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QUESTION
Assume you're given the utility function U(x,y) = 3x+4y. Goods x and y are both priced at $2. Given an income of $12, what allocation of the two
Assume you're given the utility function U(x,y) = 3x+4y. Goods x and y are both priced at
$2. Given an income of $12, what allocation of the two goods provides the highest utility?
