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An individual consumes two goods: x and y. Initially, the prices were px = 3 and py = 10, and the individual consumed 30 units
An individual consumes two goods: x and y. Initially, the prices were px = 3 and py = 10, and
the individual consumed 30 units of x and 3 units of y. Then the prices changed: px went down to
$ 2.9 and py increased to $ 11. What can be said about the effect of these price changes on the well-being of the individual?
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