=+e. Define p as the price for $1 worth of xH consumption in terms of xT consumption.

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=+e. Define p as the price for $1 worth of xH consumption in terms of xT consumption. Suppose you wanted to construct a linear budget (with price p for xH and price of 1 for xT

) that contains our “endowment” bundle as well as the outcome bundle from the gamble (in which I return k of my winnings if the coin comes up heads). Derive p as a function of k.

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