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Calculate her optimal consumption basket

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A professor has preferences over tea (x) and coffee (y), represented by the utility function U (x, y) = xy. The marginal utilities for this utility function are M Ux = y and M Uy = x. Her income is $48, and the price of y is given by $2 per unit.

(a) Calculate her optimal consumption basket when the price of tea is $2 per unit.

Reference no: EM131499425

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