4 REACTION To PRICE CHANGES Consider a consumer who consumes two products: beer and movie. The consumers

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4 REACTION To PRICE CHANGES Consider a consumer who consumes two products: beer and movie. The consumers budget for beer and movies is I. The consumer's lifetime utilityr is given by U{rbarrrrl{b' HI] : (0-2\" [b_ rb) 'l" U.8I1[m rm) where U['C) x if .1520 ' _ 2x if x

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4 REACTION To PRICE CHANGES Consider a consumer who consumes two products: beer and movie. The consumers

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