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?

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 24SQ
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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?
Transcribed Image Text: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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