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If Charlie's Utility Function Were X 5A XB, the Price

question 22

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if Charlie's utility function were X 5A XB, the price of apples were pA, the price of bananas were pB, and his income were m, then Charlie's demand for apples would be

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Definitions:

Consumptions

The act of using goods and services by households or individuals, leading to the satisfaction of their needs and wants.

Oranges

A citrus fruit with a round shape and bright orange skin, known for its juicy, sweet and slightly acidic taste.

Utility Function

A mathematical representation of how different goods or outcomes give different levels of satisfaction or happiness to an individual.

Whisky Consumption

The act of drinking whisky, a distilled alcoholic beverage made from fermented grain mash, often associated with certain health, social, and cultural implications.

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