Question: Suppose Tom's utility function is U(x,y) = 27.2x - 7.6x 2 + y. His income is 573.6 dollars, the price of good X is 9.7
Suppose Tom's utility function is U(x,y) = 27.2x - 7.6x2 + y. His income is 573.6 dollars, the price of good X is 9.7 dollars and the price of good Y is 5.8 dollars. How many units of good Y will Tom buy to maximize his utility?
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