2) A consumer has the utility function U(Q₁, Q₂) = Q1Q2 and can buy good X at 1 TL a unit and good Y at 4 TL a unit. Find the combination of X and Y that they should purchase to maximize with a given amount of income 120 TL?

2) A consumer has the utility function U(Q₁, Q₂) = Q1Q2 and can buy good X at 1 TL a unit and good Y at 4 TL a unit. Find the combination of X and Y that they should purchase to maximize with a given amount of income 120 TL?

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Consumer Choice: Maximizing Utility And Behavioral Economics

Section: Chapter Questions

Problem 6QP

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2) A consumer has the utility function U(Q₁, Q₂) = Q1Q2 and can buy good X at
1 TL a unit and good Y at 4 TL a unit. Find the combination of X and Y that they
should purchase to maximize with a given amount of income 120 TL?

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