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Economics Mathematics & Economics Math Problem Paper (Math Problem Sample)
Instructions:
economics calculation
source..Content:
Student’s Name
Professor’s Name
Course Number
Date
Economics 2
Question 2
In order to maximize his utility, John will satisfy the following relationship
MUc/Pc = MUck/Pck
(10 – x)/1 = (21 – 2y)/1
Therefore;10 - x = 21 - 2y10 - 21 + 2y = xx = 2y - 11Budget linePc Ч x + Pco Ч y = 10x + y = 10(2y - 11) + y = 102y + y = 10 + 113y =
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