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(c) Suppose that initially p1 = $1, p2 = $1 and m = $100. Then, p2 suddenly increases to p2 = $2. Calculate his optimal

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(c) Suppose that initially p1 = $1, p2 = $1 and m = $100. Then, p2 suddenly increases to p2 = $2. Calculate his optimal consumption bundle before and after the price change. Write his budget constraint before and after the price change. What is the total effect of the price change on his demand for 2? (14 pts)

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