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Calculate ilkka utility-maximizing purchases of x and y

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Reference no: EM13335739

Ilkka’s income is $120 and he spends it on two goods, X and Y. His utility function is U = XY. Both X and Y sells for $2 per unit.

(a) Calculate Ilkka’s utility-maximizing purchases of X and Y.

(b) How will his utility change if his income decreases by $2.00?

Reference no: EM13335739

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