=+B. Suppose there are two types of consumers: Consumer type 1 has utility function u 1 1x,
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=+B. Suppose there are two types of consumers: Consumer type 1 has utility function u 1
1x, y2 5 50x 1/2 1 y, and consumer type 2 has utility function u 2
1x, y2 5 10x 3/4 1 y. Suppose further that consumer type 1 has income of 800 and consumer type 2 has income of 1,200.
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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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