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Where x is his consumption of cds with a price of 1 and y

Maurice has the following utility function:

u(X, Y) = 20X + 80Y - x2 - 2y2

where X is his consumption of CDs with a price of $1 and Y is his consumption of movie videos, with a rental price of $2.He plans to spend $41 on both forms of entertainment. Determine the number of CDs and video rentals that will maximize Maurice"s utility.

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Microeconomics: Where x is his consumption of cds with a price of 1 and y

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Solution Preview :

Prepared by a verified Expert

Microeconomics: Where x is his consumption of cds with a price of 1 and y

Reference No:- TGS0660305

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : How many moles of h came out of the column c how many moles

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Q : The hydrogen atom can absorb light of wavelength 2626 nm a

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Solution Preview :

Prepared by a verified Expert

Microeconomics: Where x is his consumption of cds with a price of 1 and y

Reference No:- TGS0660305

Recent Questions Asked Microeconomics

Q : How many moles of h came out of the column c how many moles

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Q : Calculate the ph at the points in the titration of 4000 ml

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