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Katie Kwasi's Utility Function Is U(x1, X2) = 2(ln X1)

question 14

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Katie Kwasi's utility function is U(x1, x2) = 2(ln x1) + x2. Given her current income and the current relative prices, she consumes 10 units of x1 and 15 units of x2. If her income doubles, while prices stay constant, how many units of x1 will she consume after the change in income?


Definitions:

Ectopic Pacemaker

An abnormal group of cells outside the normal pacemaker region of the heart that triggers a heartbeat.

Premature Junctional Contractions

Abnormal heartbeats originating from the junctional tissue between the atria and ventricles, often occurring before the expected heartbeat.

AV Node

Atrioventricular node; the beginning of the bundle of His in the right atrium; nerve fibers responsible for the contraction of the ventricles.

High-Density Lipoprotein

A type of cholesterol known as "good" cholesterol because it helps remove other forms of cholesterol from your bloodstream.

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