=+B. Suppose that a household earning $60,000 (after taxes) has utility function u1x, y2 5 x 0.25y
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=+B. Suppose that a household earning $60,000 (after taxes) has utility function u1x, y2 5 x 0.25y 0.75, where x represents dollars worth of housing and y represents dollars worth of other consumption. (Thus, we are implicitly setting the price of x and y to $1.)
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Related Book For 
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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