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02-06-2023
Business

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Suppose utility for a consumer of movies (x) and golf (z) is U = 20x^0.4 z^0.6. The consumer has set aside $1000 to consumer movies and golf for a year.
a. If the price of movies is $20 and the price of golf is $40, what is the utility-maximizing consumption of movies and golf?
b. Show the optimal consumption bundle on a graph, showing a budget line (with intercepts), an indifference curve, and the optimal choic

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