=+a. Suppose the average senior has income from all sources equal to $40,000 per year, and suppose

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=+a. Suppose the average senior has income from all sources equal to $40,000 per year, and suppose that prices are given by p1 and p2

. How much will our senior consume of x1 and x2?

(Hint: It may be easiest simply to use what you know about the MRS of CES utility functions to solve this problem.)

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Microeconomics An Intuitive Approach With Calculus

ISBN: 9781337335652,9781337027632

2nd Edition

Authors: Thomas Nechyba

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Question Posted: Nov 04, 2024 02:00 AM

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=+a. Suppose the average senior has income from all sources equal to $40,000 per year, and suppose

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Microeconomics An Intuitive Approach With Calculus

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