Max has the utility function ux y xy 1 the price of x is
Max has the utility function U(x, y) = x(y + 1). The price of x is $2 and the price of y is $1. Max’s Income is $11. How much x does Max demand? How much y? If his income doubles and prices stay unchanged, will Max’s demand for both goods double?
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max has the utility function ux y xy 1 the price of x is 2 and the price of y is 1 maxrsquos income is 11 how much x
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