please can you do it fast 2. Linus has the utility function U (x; y) = 2x2+y. The price of both goods is 1 euro and incomeare 5 euro.a) Find the equation and draw in the graph the Engel curve for both goods.b) What is income offer curve equation?

Given the utility function U (x,y)=2x1/2 +yPrice =Px =Py =1 euroIncome =M=5 euro

Answered: a) Find the equation and draw in the…

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Economics

a) Find the equation and draw in the graph the Engel curve for both goods. p) What is income offer curve equation?

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter21: The Theory Of Consumer Choice

Section: Chapter Questions

Problem 2CQQ

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please can you do it fast

2. Linus has the utility function U (x; y) = 2x2+y. The price of both goods is 1 euro and income
are 5 euro.
a) Find the equation and draw in the graph the Engel curve for both goods.
b) What is income offer curve equation?

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38
In 2020, the all ages population of Canada was 37226847, out of
which the population under 15 years was 5991944 and over 65
years was 6355552. There were 19163495 people who are
employed and the unemployment rate was 8.89%. What was the
labour force participation rate?
Answer:
%
(DO NOT ROUND YOUR CALCULATIONS UNTIL YOU REACH
THE FINAL ANSWER. ENTER YOUR RESPONSE ROUNDED TO
TWO DECIMAL PLACES.)
ure

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