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1) Briefly explain Marshallian (uncompensated) demand and Hicksian (compensated) demand models. 2) Which one of the two do you think is a better reflection of

1) Briefly explain Marshallian (uncompensated) demand and Hicksian (compensated) demand models.

2) Which one of the two do you think is a better reflection of the real outcomes (i.e., price-demand quantity relationship)? Or, do they both make sense to you?

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