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An individual derives utility from consuming goods X and Y according to the following estimated utility function
U = 12X2/3 Y ¼
X and Y are quantities (units) of the two goods
The individual has ksh 2400 to spend on goods X and Y whose prices per unit are ksh 6 and Ksh 12 respectively,
a) Find the individual's marginal utilities with respect to both goods
b) Determine the quantities of each commodity he/she should buy so as to maximize his utility
c) His/her maximum attainable utility level
Arbitration The use of a third party to describe between two sides dead locked in a negotiation. The arbitrator's decision can be binding or not binding, as before agreed upon
the full detailed of market structure their characteristic ,sources with clear explanation
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ahmed has 500 dolars.asma has 700 dolars.cismaan has 800 dolar
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Does the curve represent if the risk is NOT taken and the line connecting two points on the curve represents if the risk IS taken?
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