Question: Confirm that if a consumer's utility function is described by U = 2X + Z, and prices are p_X = 2 and p_Z = 1,
- Confirm that if a consumer's utility function is described by U = 2X + Z, and prices are p_X = 2 and p_Z = 1, there is no unique utility-maximizing solution regardless of income level. What does this tell you about X and Z as commodities? (Hint: Draw a graph showing a budget constraint and indifference curve using the information provided.)
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