Question: Suppose the utility function of the consumer is given by U = min{2X, 5Y } and the budget constraint of the consumer is given by

Suppose the utility function of the consumer is given by U = min{2X, 5Y } and the budget constraint of the consumer is given by 7.5X+10Y = 300. Find the utility miximizing consumption and the maximum utility of the consumer? How will the utility miximizing consumption and the maximum utility of the consumer change if the government decides to impose a 10% income tax on the consumer?

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