=+B. Suppose the consumers tastes are CobbDouglas and take the form u1x1 ,x2 2 5 x1 a
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=+B. Suppose the consumer’s tastes are Cobb–Douglas and take the form u1x1
,x2 2 5 x1 a
x2 112a2 where x1 is boxes of grits and x2 is a composite good with price normalized to 1. The consumer’s exogenous income is I.
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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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