Question

A consumer’s total utility function is as follows: U(X,Y)=XY+2X, while a budget line equation is 4X+2Y=60....

A consumer’s total utility function is as follows: U(X,Y)=XY+2X, while a budget line equation is 4X+2Y=60.
a. Calculate optimal consumption of both goods.
b. What is total utility from consumption of these goods?
c. What is MRS in the point of optimum?

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