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In an island economy, George has 40 units of labor which he can use to produce...

In an island economy, George has 40 units of labor which he can use to produce goods x and y. The
production functions are x = 4Lx, and y = 2Ly. George has a utility function u(x,y) = min { x, y}. In a
closed economy, what is the highest utility George can accomplish?
(a.) 13
(b.) 33.3
(c.) 53.3
(d.) 66.6

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