Question
Aim: To derive the demand curve using algebra o Let income M be equal to R20 o Assume 2 goods X and Y with prices
Aim: To derive the demand curve using algebra
o Let income M be equal to R20
o Assume 2 goods X and Y with prices Px and Py o Let Px = 2 and Py = 5
o Utility over the 2 goods (U) is: U=X*Y
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International Economics
Authors: Robert C. Feenstra, Alan M. Taylor
3rd edition
978-1429278515, 142927851X, 978-1319029517, 1319029515, 978-1429278447
