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Question

Let the utility function of a consumer be

given by U(x,y) = min {y+2x, x+2y}. Prices are given by Px=1, Py=3, while the consumer’s income is M=20. Then her equilibrium consumption will be

A (5,5)

B (15,5)

C (5,15)

D (15,15)

E None of the above

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