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1. Pat's preference is given by u(11, 12) = min 21, x2}. Currently, prices are p= (P1, p2) and Pat's income is I. Is he
1. Pat's preference is given by u(11, 12) = min 21, x2}. Currently, prices are p= (P1, p2) and Pat's income is I. Is he better off if the price of good one is halved so that p= (P2), or if his income is doubled to 21
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
