Solved: Also suppose the consumer has 180 to spend m 180 py 1, Microeconomics

Also suppose the consumer has 180 to spend m 180 py 1

Suppose a consumer's preference are represented by the utility function

U(X, Y) = MIN (2X, Y)

Also, suppose the consumer has $180 to spend (M = $180), P_Y= 1, and that they spend all of their money on goods X and Y. Also, assume the consumer maximizes their utility subject to their budget constraint. Complete the following table:

P_X	Quantity Demanded of X
$1
$2
$3

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Microeconomics: Also suppose the consumer has 180 to spend m 180 py 1

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Microeconomics: Also suppose the consumer has 180 to spend m 180 py 1

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