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Consider a consumer who is to allocate their budget between two goods, x and m. The price of x is p , and the price
Consider a consumer who is to allocate their budget between two goods, x and m. The price of x is p, and the price of m is 1. The consumer's utility function is:
U(x,m)=8 x+m
When does the consumer prefer a little more of good x over a little more of good m?
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