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Les Has the Utility Function U(x, Y)= (X + 1)(y

question 59

Essay

Les has the utility function U(x, y)= (x + 1)(y + 4).The price of y is $1.Les spends all of his income to buy 6 units of y and no x.What must the price of x be? Explain your answer and draw a diagram to illustrate it.


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The process of restructuring a company's legal, ownership, operational, or other aspects to enhance its profitability or to optimize its organization for current requirements.

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The process of reorganizing the workforce to improve efficiency, productivity, or adapt to new business strategies or market demands.

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The process of realigning or rebalancing an investment portfolio to meet specific financial objectives or adapt to changes in the market.

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The use of computers, storage, networking, and other physical devices, infrastructure, and processes to create, process, store, secure, and exchange all forms of electronic data.

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