When prices are (pl,pz) = (1,2) a consumer demands (x1,z2) = (1,2), and when prices are (ql,
Question:
When prices are (pl,pz) = (1,2) a consumer demands (x1,z2) = (1,2), and when prices are (ql, q2) = (2,l) the consumer demands (yl, y2) = (2,l).
Is this behavior consistent with the model of maximizing behavior?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Intermediate Microeconomics A Modern Approach
ISBN: 9780393927023
7th Edition
Authors: Hal R. Varian
Question Posted: