Multiple Choice
Suppose that there are two goods, X and Y. The utility function is U = X2Y2. The price of X is P, and the price of Y is $50. Income is $600. The demand for X as a function of P is X = ____.
A) 300/P
B) 200/P
C) 20/P
D) 2P
Correct Answer:
Verified
Correct Answer:
Verified
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