Exam (elaborations)
INTERMEDIATE MICROECONOMICS
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Difficulty: 1 Correct Answer: b 1. Hans has $27 which he decides to spend on x and y. Commodity x costs $16 per unit and commodity y costs $10 per unit. He has the utility function U(x, y) = 5x2 + 2y2 and he can purchase fractional units of x and y. Hans will choose a. only x. b. only y. c...
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