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Utility-Maximizing Condition: Example Problem
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I solve this problem: Suppose a consumer is maximizing utility, where
U = (1 + X)(2 + Y), MRS = 4, and X = 3. How many units of good Y does the consumer buy?
U = (1 + X)(2 + Y), MRS = 4, and X = 3. How many units of good Y does the consumer buy?
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