Question: A consumer's preferences are given by the following linear utility function: u ( x, y) = x+y Assume P* = 9, Py = 3, and

A consumer's preferences are given by the following linear utility function: u ( x, y) = x+y Assume P* = 9, Py = 3, and U = 120. (b.) Solve for the Hicksian demand (i.e. compensated demand) for y yH (9,3,120) =A consumer's preferences are given by the following linear utility function: u ( x, y) = x+y Assume P x = 9, Py = 3, and U = 120. (a.) Solve for the Hicksian demand (i.e. compensated demand) for x xH (9,3,120 ) =

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