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##### If George spends \$5 (total) a week

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Summary;If George spends \$5 (total) a week on good X and good Y, and if the price of each good is \$1 per unit, then how many units of each good does he purchase to maximize utility?;To maximize the utility, George has to spend all his money buying one type of good. Either he buys 5 units of good X or 5 units of good Y.;Question (answer this question by using the information provided above);Given the number of units of each good George purchased in the above summary, what is his total utility?;Summary;If George spends \$5 (total) a week on good X and good Y, and if the;price of each good is \$1 per unit, then how many units of each good does;he purchase to maximize utility?;To maximize the utility, George has to spend all his money buying one;type of good. Either he buys 5 units of good X or 5 units of good Y.;Question (answer this question by using the information provided above);Given the number of units of each good George purchased in the above;summary, what is his total utility?

Paper#27478 | Written in 18-Jul-2015

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