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1. Ann consumes two things: books (b) and chocolate (c). Ann's uncompensated demand curve for books is: b = %; where b is the number
1. Ann consumes two things: books (b) and chocolate (c). Ann's uncompensated demand curve for books is: b = %; where b is the number of books she reads per week; Y is her b weekly income; and Py, is the price per book. a. With recent decreases in the price of books, does Ann reduce her consumption of books? Explain why or why not using the uncompensated demand function shown above. (Hint: use the partial derivative of demand with respect to price)
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