4804113260
29.06.2021 •
Business
An individual the Marginal Rate of Substitution for good X and Y is constant and equal to 1 for all combinations of the two goods in his indifference map. The price of good X is $4 per unit and the price of good Y is $5 per unit. The individual has a total budget of $80. Determine the bundle of goods X and Y that maximize his utility.
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