Question: Suppose a consumer's preferences are represented by the utility function U(X,Y) = MIN (2X,Y). Also, suppose the consumer has $180 to spend (M = $180),

Suppose a consumer's preferences are represented by the utility function U(X,Y)

Suppose a consumer's preferences are represented by the utility function U(X,Y) = MIN (2X,Y). Also, suppose the consumer has $180 to spend (M = $180), Py = 1, and that they spend all of their money on goods X and Y. Also, assume the consumer maximizes their utility subject to their budget constraint. Complete the following table: Quantity Demanded of Px X $1 $2 $3

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