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a. A collection of economics books. She wants to own matched sets of three microeconomics and one macroeconomics textbook. She doesn't want to own any
a. A collection of economics books. She wants to own matched sets of three microeconomics and one macroeconomics textbook. She doesn't want to own any micro or macro textbook in any other ratio. a. Draw the indifference curve.
b. If he has $32 dollars to spend. The price of a macro book is $2 and that of a micro book is $2. How many macro and micro textbooks will he buy?
c. If the price of micro textbook increases from $2 to $10. Intuitively explain whether his utility will increase or decrease?
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