Suppose that income is m 102 and prices are a 2 and b 5, Business Economics

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Suppose that income is m 102 and prices are a 2 and b 5

Suppose that income is m = 102, and prices are a = 2 and b = 5.

Consider the following utility function: u(a,b) = (a + 2)(b +1)

(i) Find the utility-maximizing quantities of a and b.

(ii) What is the maximum utility level that this consumer can achieve?

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Business Economics: Suppose that income is m 102 and prices are a 2 and b 5

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Business Economics: Suppose that income is m 102 and prices are a 2 and b 5

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