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5 Question 1 1 pts Assume that a consumer's utility function is u(@1, $2 ) = 123. The price of the first good (1 )
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Question 1 1 pts Assume that a consumer's utility function is u(@1, $2 ) = 123. The price of the first good (1 ) is 1. Find the Engel curve for the first good. M. P2 Om = 7p2 AM 5 Question 2 3 pts Using the same utility function as above, u (21, 2:2 ) = 127, find the Hicksian compensated demand curve for a when the utility level is 1,000 and prices are p1 and p2. The answer is a formula. To enter that, click on the three vertical dots and select insert math equation (the one with the square root)Step by Step Solution
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