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Claude has the following utility function over x and y, U (x, y) = min(3x, y). Would he prefer a decrease in the price of
Claude has the following utility function over x and y, U (x, y) = min(3x, y). Would he prefer a decrease in the price of x or y (at an arbitrary pair of current prices, p x , p y )? In other words, which price decrease would lead to a higher increase in his indirect utility
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