Question: 1. An individual consumer's utility function is U = X. X and her money income is 20, while the prices are P = 2 and

1. An individual consumer's utility function is U = X. X and her money income is 20, while the prices are P = 2 and P = 8. (a) (b) Determine the utility maximising choice. Formulate the dual problem and solve for the minimum expenditure needed (expenditure function) to attain the utility level as in (a) above. 10+10=20

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