(Solution) - Madison s preferences are represented by the utility function U X Y -(2025 Original AI-Free Solution)

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Madison's preferences are represented by the utility function U(X, Y) = A? ln (X) + B? ln(Y), where ln stands for the natural logarithm. What is her demand for X as a function of her income M and the prices of X and Y, PX and PY? What share of her budget does she spend on X? What share on Y? What is the elasticity of her demand for X with respect to PX? With respect to PY?