What is the marginal utility of income

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Brian has the utility function U(X,Y)= X+16sqrt(Y), where X is the quantity of water consumed, and Y is the quantity of coffee consumed. Let the price of water be Px=1 and the price od coffee be Py=4. Let I represent income. (a) If I =8, what are the quantities of water and coffee that maximize Brian's utility subject to his budget constraint? (b) what is the marginal utility of income when I =8

Reference no: EM131242432

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