Question: We retailer and utility maximizing consumer benefit feature U (x 1 , x 2 ) = 4 (x 1 + 2 ) x 2 We

We retailer and utility maximizing consumer benefit feature

U (x₁, x₂) = 4 (x₁ + ₂) x₂

We assume that the consumer has a given budget of NOK 10. The price of x1 is one krone and the price of x2 is two kroner a) Solve the consumer's maximization problem and calculate equilibrium quantity based on the information provided?

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