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Assume that a consumer's utility function is u(21, 2 ) = for some a > 0, 3 > 0. The initial price of the first
Assume that a consumer's utility function is u(21, 2 ) = for some a > 0, 3 > 0. The initial price of the first good (a1) is p1. Suppose that the price of the first good increases by 50% while the price of the second good and the consumer's income remain the same. How will the consumer's expenditure on the first good change
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