Find eric''s optimal consumption bundle

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Eric purchases food (measured by x) and clothing (measured by y) and has the utility function U(x, y)= xy. His marginal utilities are MUx=yand MUy= x. He has a monthly income of Kshs, 8000. The price of food is Px=Kshs. 200, and the price of clothing is Py=Kshs. 400. Find Eric's optimal consumption bundle.

Reference no: EM131157919

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